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

Van ECK Associates Corp lifted its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 12.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 338,248 shares of the pipeline company’s stock after acquiring 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 reporting period.

A number of other hedge funds have also recently made changes to their positions in TRP. EdgeRock Capital LLC bought a new position in TC Energy in the 2nd quarter worth approximately $25,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of TC Energy by 138.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 429 shares during the last quarter. Fortitude Family Office LLC bought a new position in shares of TC Energy during the third quarter worth $28,000. Blue Trust Inc. grew its stake in TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 267 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in TC Energy in the 2nd quarter valued at $33,000. Institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TRP shares. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. The Goldman Sachs Group upped their price objective on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Finally, Veritas raised shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, TC Energy currently has an average rating of “Hold” and a consensus target price of $48.50.

TC Energy Stock Performance

NYSE:TRP opened at $47.46 on Wednesday. The firm has a market capitalization of $49.25 billion, a PE ratio of 19.45, a PEG ratio of 3.84 and a beta of 0.81. The stock’s fifty day moving average is $46.45 and its 200 day moving average is $42.10. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $48.25. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76.

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.