Millennium Management LLC lifted its stake in Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) by 102.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 396,442 shares of the pipeline company’s stock after buying an additional 200,724 shares during the quarter. Millennium Management LLC’s holdings in Tc Pipelines were worth $20,531,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its stake in Tc Pipelines by 4.6% during the second quarter. Commonwealth Equity Services LLC now owns 24,842 shares of the pipeline company’s stock valued at $1,230,000 after acquiring an additional 1,099 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in shares of Tc Pipelines by 8.3% in the second quarter. Kayne Anderson Capital Advisors LP now owns 3,109,105 shares of the pipeline company’s stock worth $153,951,000 after purchasing an additional 237,500 shares during the last quarter. KCS Wealth Advisory increased its holdings in shares of Tc Pipelines by 2.3% in the second quarter. KCS Wealth Advisory now owns 22,534 shares of the pipeline company’s stock worth $1,116,000 after purchasing an additional 513 shares during the last quarter. AGF Investments LLC purchased a new stake in shares of Tc Pipelines in the second quarter worth about $87,000. Finally, Aperio Group LLC lifted its position in shares of Tc Pipelines by 2.0% in the second quarter. Aperio Group LLC now owns 260,075 shares of the pipeline company’s stock worth $12,879,000 after buying an additional 5,219 shares in the last quarter. 63.20% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on TRP shares. TD Securities lowered Tc Pipelines to a “buy” rating in a research note on Monday, November 4th. Scotiabank downgraded Tc Pipelines from an “outperform” rating to a “sector perform” rating in a research note on Thursday, October 10th. ValuEngine raised Tc Pipelines from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Evercore ISI reiterated a “hold” rating and set a $60.00 target price on shares of Tc Pipelines in a research report on Wednesday, November 20th. Finally, Credit Suisse Group set a $70.00 target price on Tc Pipelines and gave the company a “hold” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $66.43.
Shares of NYSE TRP opened at $50.47 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.71 and a debt-to-equity ratio of 1.60. Tc Pipelines Lp has a 12-month low of $34.58 and a 12-month high of $52.69. The firm’s 50-day moving average price is $50.96 and its 200-day moving average price is $50.09. The stock has a market capitalization of $47.57 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 2.37 and a beta of 0.76.
Tc Pipelines (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.03. The company had revenue of $2.37 billion during the quarter. Tc Pipelines had a return on equity of 14.12% and a net margin of 29.37%. On average, equities analysts predict that Tc Pipelines Lp will post 3.07 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, December 30th. This is an increase from Tc Pipelines’s previous quarterly dividend of $0.57. This represents a $2.28 dividend on an annualized basis and a yield of 4.52%. Tc Pipelines’s dividend 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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