Van ECK Associates Corp Purchases 38,729 Shares of TC Energy Co. (NYSE:TRP)

Van ECK Associates Corp lifted its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 12.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 338,248 shares of the pipeline company's stock after purchasing an additional 38,729 shares during the period. Van ECK Associates Corp's holdings in TC Energy were worth $15,880,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Intech Investment Management LLC acquired a new position in TC Energy in the first quarter valued at about $1,159,000. M&G Plc purchased a new position in shares of TC Energy in the first quarter worth about $111,587,000. Cetera Investment Advisers boosted its holdings in TC Energy by 74.1% in the 1st quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company's stock valued at $3,972,000 after purchasing an additional 42,024 shares during the period. Headlands Technologies LLC lifted its holdings in shares of TC Energy by 49,890.3% during the 1st quarter. Headlands Technologies LLC now owns 15,497 shares of the pipeline company's stock worth $623,000 after acquiring an additional 15,466 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of TC Energy by 2.6% during the 2nd quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company's stock valued at $322,584,000 after purchasing an additional 214,689 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Trading Up 1.9 %

TRP traded up $0.90 during trading on Wednesday, reaching $48.34. The company had a trading volume of 2,706,435 shares, compared to its average volume of 3,123,531. The firm's 50-day simple moving average is $46.51 and its 200 day simple moving average is $42.14. The company has a market cap of $50.16 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 3.89 and a beta of 0.81. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $48.35. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76.

Analysts Set New Price Targets

Several research firms recently weighed in on TRP. JPMorgan Chase & Co. upgraded TC Energy from a "neutral" rating to an "overweight" rating in a research note on Monday, October 14th. Morgan Stanley upgraded TC Energy from an "underweight" rating to an "overweight" rating in a research report on Friday, October 25th. The Goldman Sachs Group boosted their price target on TC Energy from $38.00 to $42.00 and gave the stock a "sell" rating in a research report on Monday, October 21st. UBS Group raised shares of TC Energy from a "neutral" rating to a "buy" rating in a research report on Monday, September 30th. Finally, Barclays upgraded shares of TC Energy from an "equal weight" rating to an "overweight" rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $48.50.

TC Energy Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.