TC Energy Corporation $TRP Shares Bought by Oxbow Advisors LLC

Oxbow Advisors LLC boosted its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 10.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 12,881 shares of the pipeline company’s stock after purchasing an additional 1,228 shares during the quarter. Oxbow Advisors LLC’s holdings in TC Energy were worth $628,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Park Avenue Securities LLC boosted its holdings in TC Energy by 2.3% during the 2nd quarter. Park Avenue Securities LLC now owns 9,947 shares of the pipeline company’s stock valued at $485,000 after acquiring an additional 225 shares during the period. Gold Investment Management Ltd. boosted its holdings in TC Energy by 2.5% during the 2nd quarter. Gold Investment Management Ltd. now owns 9,656 shares of the pipeline company’s stock valued at $471,000 after acquiring an additional 232 shares during the period. Baader Bank Aktiengesellschaft boosted its holdings in TC Energy by 4.4% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 6,325 shares of the pipeline company’s stock valued at $289,000 after acquiring an additional 264 shares during the period. Compound Planning Inc. boosted its holdings in TC Energy by 2.1% during the 1st quarter. Compound Planning Inc. now owns 13,806 shares of the pipeline company’s stock valued at $652,000 after acquiring an additional 288 shares during the period. Finally, Prudential PLC boosted its holdings in TC Energy by 5.2% during the 1st quarter. Prudential PLC now owns 6,536 shares of the pipeline company’s stock valued at $309,000 after acquiring an additional 326 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Down 0.5%

Shares of NYSE TRP opened at $51.47 on Friday. The company has a market capitalization of $53.54 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 4.85 and a beta of 0.75. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The business has a 50-day moving average of $52.23 and a two-hundred day moving average of $49.89. TC Energy Corporation has a 1 year low of $43.51 and a 1 year high of $55.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the business earned $0.79 EPS. On average, analysts forecast that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be issued a $0.6148 dividend. This represents a $2.46 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, September 29th. This is an increase from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio (DPR) is presently 84.30%.

Analysts Set New Price Targets

TRP has been the subject of a number of research analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of TC Energy in a report on Wednesday, October 8th. Cibc World Mkts cut TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Wall Street Zen cut TC Energy from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. US Capital Advisors cut TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Finally, Barclays reissued an “overweight” rating on shares of TC Energy in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, TC Energy presently has an average rating of “Moderate Buy” and an average target price of $62.00.

About TC Energy

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.