Oxbow Advisors LLC Sells 827 Shares of TC Energy Co. (NYSE:TRP)

Oxbow Advisors LLC decreased its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,603 shares of the pipeline company’s stock after selling 827 shares during the quarter. Oxbow Advisors LLC’s holdings in TC Energy were worth $493,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TRP. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of TC Energy by 156.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after acquiring an additional 4,126,801 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of TC Energy in the third quarter worth $73,162,000. Merewether Investment Management LP grew its stake in shares of TC Energy by 37.9% in the third quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock worth $194,776,000 after acquiring an additional 1,127,000 shares during the last quarter. Duff & Phelps Investment Management Co. grew its stake in shares of TC Energy by 70.7% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,763,915 shares of the pipeline company’s stock worth $83,874,000 after acquiring an additional 730,415 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP grew its stake in shares of TC Energy by 29.2% in the third quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company’s stock worth $152,072,000 after acquiring an additional 722,619 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Down 1.3 %

TRP opened at $44.94 on Friday. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The firm’s fifty day moving average price is $46.48 and its two-hundred day moving average price is $46.63. The company has a market capitalization of $46.70 billion, a P/E ratio of 13.87, a P/E/G ratio of 4.34 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the previous year, the company earned $1.35 EPS. On average, analysts anticipate that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 7.57%. The ex-dividend date is Monday, March 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is currently 70.68%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TRP shares. StockNews.com upgraded shares of TC Energy from a “hold” rating to a “buy” rating in a research note on Wednesday. TD Securities started coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday. Finally, BMO Capital Markets lifted their price target on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Company 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.