Van ECK Associates Corp Has $23.46 Million Position in TC Energy Corporation $TRP

Key Points

• VanEck increased its stake: VanEck Associates boosted its position in TC Energy by 7.2% to 431,403 shares worth about $23.46 million per its most recent 13F, and institutional investors collectively own 83.13% of the company.
• Dividend raised and high yield: TC Energy raised its quarterly dividend to $0.8775 (annualized $3.51), implying a ~5.6% yield with an ex-dividend date of March 31, though the dividend payout ratio is a high 110.78%.
• Mixed fundamentals and analyst view: TRP trades near $63.14 with a $65.7B market cap; analysts have a consensus "Hold" and $72.50 average price target, while Q results showed EPS of $0.70 (beat) but revenue missed estimates.

Van ECK Associates Corp boosted its stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 7.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 431,403 shares of the pipeline company's stock after purchasing an additional 28,955 shares during the quarter. Van ECK Associates Corp's holdings in TC Energy were worth $23,457,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TRP. AQR Capital Management LLC raised its stake in TC Energy by 54.0% during the 1st quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company's stock worth $538,000 after buying an additional 3,892 shares during the period. Focus Partners Wealth raised its position in shares of TC Energy by 46.1% during the first quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company's stock worth $588,000 after purchasing an additional 3,929 shares during the period. Intech Investment Management LLC raised its position in shares of TC Energy by 200.7% during the first quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company's stock worth $1,269,000 after purchasing an additional 17,939 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of TC Energy by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 918,293 shares of the pipeline company's stock valued at $44,804,000 after buying an additional 3,052 shares in the last quarter. Finally, Savant Capital LLC bought a new stake in shares of TC Energy during the second quarter worth about $271,000. Institutional investors and hedge funds own 83.13% of the company's stock.

Analyst Ratings Changes

TRP has been the topic of several recent research reports. National Bank Financial cut shares of TC Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 17th. Wall Street Zen upgraded TC Energy from a "sell" rating to a "hold" rating in a report on Saturday, February 14th. Scotiabank reiterated an "outperform" rating on shares of TC Energy in a report on Tuesday, February 17th. TD Securities cut TC Energy from a "buy" rating to a "hold" rating in a research note on Tuesday, February 17th. Finally, The Goldman Sachs Group lifted their price objective on shares of TC Energy from $48.00 to $53.00 and gave the stock a "sell" rating in a report on Wednesday, February 18th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, TC Energy has a consensus rating of "Hold" and an average price target of $72.50.

TC Energy Stock Down 0.8%

TRP stock opened at $63.14 on Thursday. The stock has a market cap of $65.74 billion, a P/E ratio of 27.17 and a beta of 0.72. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.66. The stock's fifty day simple moving average is $59.22 and its two-hundred day simple moving average is $55.23. TC Energy Corporation has a 1-year low of $43.59 and a 1-year high of $65.57.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.94 billion. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.During the same period last year, the firm posted $1.05 EPS. Analysts expect that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Tuesday, March 31st. This is an increase from TC Energy's previous quarterly dividend of $0.85. TC Energy's dividend payout ratio (DPR) is 110.78%.

TC Energy Company 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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