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

Oxbow Advisors LLC trimmed its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 7.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Bell Bank raised its holdings in shares of TC Energy by 14.3% in the fourth quarter. Bell Bank now owns 175,742 shares of the pipeline company’s stock valued at $8,177,000 after buying an additional 21,970 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of TC Energy in the fourth quarter valued at about $93,000. Allianz Asset Management GmbH raised its holdings in shares of TC Energy by 5.5% in the fourth quarter. Allianz Asset Management GmbH now owns 1,086,132 shares of the pipeline company’s stock valued at $50,591,000 after buying an additional 56,566 shares during the last quarter. First Bank & Trust raised its holdings in shares of TC Energy by 0.6% in the fourth quarter. First Bank & Trust now owns 58,396 shares of the pipeline company’s stock valued at $2,717,000 after buying an additional 347 shares during the last quarter. Finally, Corps Capital Advisors LLC bought a new position in shares of TC Energy in the fourth quarter valued at about $518,000. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Performance

Shares of TRP stock opened at $44.94 on Friday. 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 stock has a market cap of $46.70 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 4.34 and a beta of 0.81. The stock has a 50-day moving average of $46.48 and a 200-day moving average of $46.63. TC Energy Co. has a one year low of $31.83 and a one year high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period in the prior year, the business posted $1.35 EPS. As a group, sell-side analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.57%. TC Energy’s dividend payout ratio is 70.68%.

Analyst Ratings Changes

TRP has been the subject of a number of research analyst reports. BMO Capital Markets lifted their price target on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. TD Securities assumed coverage on TC Energy in a report on Wednesday, January 15th. They set a “buy” rating for the company. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Royal Bank of Canada boosted their price objective on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, StockNews.com raised TC Energy from a “hold” rating to a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average 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.