Van ECK Associates Corp Has $42.22 Million Holdings in TC Energy Corporation $TRP

Van ECK Associates Corp lifted its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 21.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 636,863 shares of the pipeline company’s stock after acquiring an additional 113,055 shares during the quarter. Van ECK Associates Corp’s holdings in TC Energy were worth $42,218,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in TC Energy during the 4th quarter worth approximately $25,000. Sterling Capital Management LLC acquired a new stake in TC Energy during the 1st quarter valued at $26,000. McIlrath & Eck LLC purchased a new stake in shares of TC Energy in the fourth quarter valued at $32,000. Trust Co. of Vermont purchased a new stake in shares of TC Energy in the second quarter valued at $33,000. Finally, SWAN Capital LLC acquired a new stake in shares of TC Energy in the third quarter worth $40,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

NYSE TRP opened at $61.87 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $64.46 billion, a PE ratio of 25.67 and a beta of 0.66. The company has a 50 day moving average price of $66.33 and a two-hundred day moving average price of $65.34. TC Energy Corporation has a 12-month low of $49.27 and a 12-month high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. During the same quarter in the prior year, the business posted $0.82 EPS. As a group, equities analysts predict that TC Energy Corporation will post 2.78 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be issued a $0.8775 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 dividend on an annualized basis and a yield of 5.7%. TC Energy’s dividend payout ratio is currently 102.49%.

Analysts Set New Price Targets

TRP has been the topic of a number of research analyst reports. BMO Capital Markets reiterated an “outperform” rating and set a $99.00 price target on shares of TC Energy in a report on Friday, July 31st. National Bank Financial raised TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. TD Securities restated a “hold” rating on shares of TC Energy in a research report on Thursday, July 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TC Energy in a research note on Friday, July 31st. Finally, Royal Bank Of Canada upped their target price on TC Energy from $104.00 to $106.00 and gave the company an “outperform” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.00.

About TC Energy

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.