Massachusetts Financial Services Co. MA reduced its holdings in Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) by 8.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,046,001 shares of the pipeline company’s stock after selling 393,258 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.43% of Tc Pipelines worth $179,238,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Orion Portfolio Solutions LLC bought a new position in shares of Tc Pipelines during the 4th quarter valued at about $25,000. Paragon Capital Management LLC bought a new position in shares of Tc Pipelines during the 1st quarter valued at about $27,000. HBC Financial Services PLLC bought a new position in shares of Tc Pipelines during the 4th quarter valued at about $32,000. Cox Capital Mgt LLC bought a new position in shares of Tc Pipelines during the 1st quarter valued at about $41,000. Finally, Sandy Spring Bank bought a new position in shares of Tc Pipelines during the 1st quarter valued at about $44,000. Institutional investors and hedge funds own 65.73% of the company’s stock.
Shares of TRP traded down $2.17 during midday trading on Thursday, hitting $43.26. 99,598 shares of the company’s stock traded hands, compared to its average volume of 2,288,958. Tc Pipelines Lp has a 1 year low of $32.37 and a 1 year high of $57.92. The firm’s fifty day moving average is $45.11 and its 200-day moving average is $49.16. The company has a current ratio of 0.51, a quick ratio of 0.49 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $43.88 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 4.01 and a beta of 0.74.
The company also recently announced a — dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a $0.5742 dividend. This represents a dividend yield of 5%. The ex-dividend date is Monday, June 29th. Tc Pipelines’s payout ratio is 73.08%.
TRP has been the topic of several recent research reports. Industrial Alliance Securities upgraded Tc Pipelines to a “buy” rating and set a $70.00 price target on the stock in a research report on Monday, May 25th. National Bank Financial upgraded Tc Pipelines from a “sector perform overweight” rating to an “outperform overweight” rating in a research note on Sunday, March 22nd. Barclays started coverage on Tc Pipelines in a research note on Thursday, March 5th. They issued an “overweight” rating and a $80.00 target price for the company. Royal Bank of Canada reaffirmed a “buy” rating on shares of Tc Pipelines in a research report on Monday, May 4th. Finally, Jefferies Financial Group started coverage on Tc Pipelines in a research report on Tuesday, May 12th. They set a “hold” rating and a $68.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $67.69.
Tc Pipelines Company Profile
TC Energy Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Energy segments. The company transports natural gas to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, and other businesses.
Further Reading: What causes a yield curve to invert?
Receive News & Ratings for Tc Pipelines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tc Pipelines and related companies with MarketBeat.com's FREE daily email newsletter.