TC Energy Co. (NYSE:TRP) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp grew its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 3.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 350,349 shares of the pipeline company's stock after buying an additional 12,101 shares during the quarter. Van ECK Associates Corp's holdings in TC Energy were worth $16,313,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Creative Planning lifted its stake in TC Energy by 4.1% during the third quarter. Creative Planning now owns 46,779 shares of the pipeline company's stock worth $2,224,000 after purchasing an additional 1,829 shares during the last quarter. Blue Trust Inc. increased its position in TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock worth $30,000 after buying an additional 267 shares during the period. Sequoia Financial Advisors LLC increased its position in TC Energy by 26.0% during the third quarter. Sequoia Financial Advisors LLC now owns 9,651 shares of the pipeline company's stock worth $459,000 after buying an additional 1,993 shares during the period. Signaturefd LLC increased its position in TC Energy by 15.6% during the third quarter. Signaturefd LLC now owns 18,929 shares of the pipeline company's stock worth $900,000 after buying an additional 2,556 shares during the period. Finally, Eastern Bank acquired a new position in TC Energy during the third quarter worth approximately $166,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Trading Down 1.1 %

Shares of TC Energy stock traded down $0.49 during trading hours on Wednesday, hitting $45.89. The company's stock had a trading volume of 1,478,696 shares, compared to its average volume of 2,114,840. The company has a market capitalization of $47.68 billion, a PE ratio of 14.16, a P/E/G ratio of 4.35 and a beta of 0.81. The business has a fifty day moving average of $46.56 and a 200 day moving average of $46.63. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 11.95%. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the prior year, the firm posted $1.35 EPS. As a group, equities analysts forecast that TC Energy Co. will post 2.64 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.85 dividend. This is an increase from TC Energy's previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.41%. The ex-dividend date is Monday, March 31st. TC Energy's dividend payout ratio (DPR) is presently 70.68%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on TRP shares. US Capital Advisors raised TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. BMO Capital Markets boosted their target price on TC Energy from $66.00 to $70.00 and gave the company a "market perform" rating in a report on Wednesday, November 20th. Morgan Stanley raised TC Energy from an "underweight" rating to an "overweight" rating in a report on Friday, October 25th. StockNews.com began coverage on TC Energy in a report on Wednesday, December 4th. They issued a "hold" rating on the stock. Finally, TD Securities began coverage on TC Energy in a report on Wednesday, January 15th. They issued a "buy" rating on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $62.00.

About TC Energy

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.