Macquarie Group Ltd. boosted its holdings in Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) by 184.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,358 shares of the pipeline company’s stock after buying an additional 5,419 shares during the quarter. Macquarie Group Ltd.’s holdings in Tc Pipelines were worth $414,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of TRP. Mackenzie Financial Corp bought a new position in shares of Tc Pipelines during the 2nd quarter valued at $616,147,000. OMERS ADMINISTRATION Corp boosted its position in shares of Tc Pipelines by 94.4% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 7,506,205 shares of the pipeline company’s stock valued at $377,974,000 after acquiring an additional 3,645,514 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Tc Pipelines by 28.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 11,573,372 shares of the pipeline company’s stock valued at $567,443,000 after acquiring an additional 2,594,158 shares in the last quarter. Prudential PLC boosted its position in shares of Tc Pipelines by 157.0% during the 2nd quarter. Prudential PLC now owns 1,825,799 shares of the pipeline company’s stock valued at $91,070,000 after acquiring an additional 1,115,356 shares in the last quarter. Finally, Brookfield Asset Management Inc. boosted its position in shares of Tc Pipelines by 33.3% during the 2nd quarter. Brookfield Asset Management Inc. now owns 2,896,854 shares of the pipeline company’s stock valued at $143,588,000 after acquiring an additional 724,016 shares in the last quarter. Hedge funds and other institutional investors own 58.87% of the company’s stock.
Shares of TRP stock opened at $50.99 on Wednesday. Tc Pipelines Lp has a 1 year low of $34.58 and a 1 year high of $52.69. The firm’s 50 day moving average is $51.09 and its 200-day moving average is $49.07. The firm has a market capitalization of $47.54 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 2.35 and a beta of 0.75. The company has a current ratio of 0.44, a quick ratio of 0.40 and a debt-to-equity ratio of 1.53.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.568 dividend. This represents a $2.27 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Friday, September 27th. This is an increase from Tc Pipelines’s previous quarterly dividend of $0.56. Tc Pipelines’s dividend payout ratio is presently 76.17%.
A number of equities analysts have commented on the stock. CIBC restated an “average” rating and issued a $70.00 price target on shares of Tc Pipelines in a research report on Sunday, August 4th. ValuEngine lowered shares of Tc Pipelines from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Zacks Investment Research lowered shares of Tc Pipelines from a “buy” rating to a “hold” rating and set a $53.00 price target on the stock. in a research report on Monday, July 8th. Scotiabank lowered shares of Tc Pipelines from an “outperform” rating to a “sector perform” rating in a research report on Thursday, October 10th. Finally, Bank of America boosted their price target on shares of Tc Pipelines from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $65.33.
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.
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