Oppenheimer Asset Management Inc. Acquires 8,226 Shares of Tc Pipelines Lp (NYSE:TRP)

Oppenheimer Asset Management Inc. raised its holdings in Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) by 88.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,509 shares of the pipeline company’s stock after purchasing an additional 8,226 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Tc Pipelines were worth $907,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mackenzie Financial Corp purchased a new stake in Tc Pipelines during the second quarter worth about $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 during 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 during the last quarter. CIBC Asset Management Inc boosted its position in shares of Tc Pipelines by 39.0% during the 3rd quarter. CIBC Asset Management Inc now owns 7,008,282 shares of the pipeline company’s stock valued at $362,932,000 after acquiring an additional 1,967,911 shares during the last quarter. Finally, QV Investors Inc. boosted its position in shares of Tc Pipelines by 201,685.1% during the 3rd quarter. QV Investors Inc. now owns 1,311,603 shares of the pipeline company’s stock valued at $89,976,000 after acquiring an additional 1,310,953 shares during the last quarter. 58.98% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have recently commented on the company. CIBC set a $73.00 target price on Tc Pipelines and gave the company a “buy” rating in a research report on Sunday, November 3rd. Citigroup raised their price target on Tc Pipelines from $73.00 to $75.00 in a report on Saturday, November 2nd. TD Securities downgraded Tc Pipelines to a “buy” rating in a report on Monday, November 4th. ValuEngine downgraded Tc Pipelines from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Bank of America raised their price target on Tc Pipelines from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $67.50.

Shares of TRP stock opened at $50.31 on Friday. The stock has a 50 day moving average of $51.21 and a 200 day moving average of $49.66. The company has a current ratio of 0.75, a quick ratio of 0.40 and a debt-to-equity ratio of 1.60. The stock has a market cap of $46.44 billion, a P/E ratio of 16.88, a P/E/G ratio of 2.30 and a beta of 0.75. Tc Pipelines Lp has a twelve month low of $34.58 and a twelve month high of $52.69.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.57 dividend. The ex-dividend date is Monday, December 30th. This is a boost from Tc Pipelines’s previous quarterly dividend of $0.57. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.53%. Tc Pipelines’s payout ratio is 76.17%.

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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Institutional Ownership by Quarter for Tc Pipelines (NYSE:TRP)

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