Quadrature Capital Ltd purchased a new stake in Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 38,800 shares of the pipeline company’s stock, valued at approximately $1,651,000.
Other institutional investors also recently made changes to their positions in the company. Sandy Spring Bank acquired a new stake in shares of Tc Pipelines in the first quarter valued at approximately $44,000. Parkside Financial Bank & Trust acquired a new stake in shares of Tc Pipelines in the first quarter valued at approximately $44,000. Rockefeller Capital Management L.P. boosted its holdings in shares of Tc Pipelines by 94.0% in the second quarter. Rockefeller Capital Management L.P. now owns 1,517 shares of the pipeline company’s stock valued at $65,000 after acquiring an additional 735 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Tc Pipelines in the first quarter valued at approximately $88,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of Tc Pipelines in the second quarter valued at approximately $88,000. Institutional investors own 66.33% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Tc Pipelines from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Tuesday, July 7th. Jefferies Financial Group assumed coverage on Tc Pipelines in a report on Tuesday, May 12th. They set a “hold” rating and a $68.00 price target for the company. Industrial Alliance Securities raised Tc Pipelines to a “buy” rating and set a $70.00 price target for the company in a report on Monday, May 25th. Indl Alliance S raised Tc Pipelines from a “hold” rating to a “buy” rating in a report on Monday, May 25th. Finally, Morgan Stanley raised Tc Pipelines from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $64.00 to $70.00 in a report on Monday, June 1st. Five research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $67.33.
Shares of TRP stock traded down $0.92 during mid-day trading on Friday, reaching $45.58. The stock had a trading volume of 901,185 shares, compared to its average volume of 1,074,890. Tc Pipelines Lp has a 12-month low of $32.37 and a 12-month high of $57.92. The company has a market cap of $42.85 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 3.68 and a beta of 0.67. The business has a 50-day simple moving average of $47.05 and a 200 day simple moving average of $45.87. The company has a current ratio of 0.58, a quick ratio of 0.53 and a debt-to-equity ratio of 1.53.
Tc Pipelines (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.25. The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Tc Pipelines had a return on equity of 13.73% and a net margin of 33.69%. During the same quarter last year, the business posted $1.00 earnings per share. Research analysts anticipate that Tc Pipelines Lp will post 3.07 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a dividend of $0.6072 per share. This represents a $2.43 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date is Tuesday, September 29th. Tc Pipelines’s dividend payout ratio is presently 73.72%.
About Tc Pipelines
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.
Want to see what other hedge funds are holding TRP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tc Pipelines Lp (NYSE:TRP) (TSE:TRP).
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.