TC Energy Corporation $TRP Shares Purchased by Van ECK Associates Corp

Key Points

• Van ECK Associates increased its TC Energy stake by 21.6% in the second quarter, acquiring 113,055 additional shares for a total holding valued at approximately $42.2 million. Institutional investors and hedge funds collectively own 83.13% of the company.
• Analysts maintain a generally positive outlook, with TC Energy receiving a consensus “Moderate Buy” rating and an average price target of $89.00; recent ratings range from Strong Buy to Hold.
• TC Energy exceeded quarterly earnings expectations, reporting $0.68 in EPS versus the $0.61 estimate and $2.80 billion in revenue. The company also declared a quarterly dividend of $0.8775 per share, representing a 5.7% annualized yield.

Van ECK Associates Corp grew its stake in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 21.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 636,863 shares of the pipeline company's stock after buying an additional 113,055 shares during the quarter. Van ECK Associates Corp owned about 0.06% of TC Energy worth $42,218,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of TC Energy during the fourth quarter valued at approximately $25,000. Sterling Capital Management LLC acquired a new stake in TC Energy in the first quarter worth approximately $26,000. McIlrath & Eck LLC acquired a new stake in TC Energy in the fourth quarter worth approximately $32,000. Trust Co. of Vermont bought a new position in TC Energy during the 2nd quarter valued at $33,000. Finally, SWAN Capital LLC bought a new position in TC Energy during the 3rd quarter valued at $40,000. 83.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Weiss Ratings reissued a "buy (b)" rating on shares of TC Energy in a research note on Friday, July 31st. Scotiabank reaffirmed an "outperform" rating on shares of TC Energy in a research note on Tuesday, July 21st. National Bank Financial raised TC Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, May 4th. TD Securities reiterated a "hold" rating on shares of TC Energy in a research report on Thursday, July 16th. Finally, Morgan Stanley downgraded shares of TC Energy from an "overweight" rating to an "equal weight" rating in a report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, TC Energy has a consensus rating of "Moderate Buy" and a consensus price target of $89.00.

TC Energy Price Performance

NYSE TRP opened at $61.87 on Friday. The stock has a market capitalization of $64.46 billion, a P/E ratio of 25.67 and a beta of 0.66. TC Energy Corporation has a 1 year low of $49.27 and a 1 year high of $71.47. The business's fifty day moving average is $66.33 and its two-hundred day moving average is $65.34. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.54 and a current ratio of 0.61.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.07. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.76 billion. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.During the same period last year, the company posted $0.82 EPS. On average, research analysts forecast that TC Energy Corporation will post 2.78 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be issued a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Tuesday, September 29th. TC Energy's dividend payout ratio is currently 102.49%.

TC Energy Profile

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.

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