Viking Fund Management LLC decreased its holdings in shares of Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) by 55.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 24,500 shares of the pipeline company’s stock after selling 30,000 shares during the period. Viking Fund Management LLC’s holdings in Tc Pipelines were worth $1,269,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of TRP. Cubist Systematic Strategies LLC raised its position in shares of Tc Pipelines by 19.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 13,348 shares of the pipeline company’s stock worth $662,000 after buying an additional 2,147 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Tc Pipelines by 1.2% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 10,159,641 shares of the pipeline company’s stock worth $504,736,000 after buying an additional 119,934 shares during the period. AXA raised its position in shares of Tc Pipelines by 2.9% in the 2nd quarter. AXA now owns 183,926 shares of the pipeline company’s stock worth $9,108,000 after buying an additional 5,138 shares during the period. Bernicke Wealth Management Ltd. raised its position in shares of Tc Pipelines by 6.3% in the 2nd quarter. Bernicke Wealth Management Ltd. now owns 20,563 shares of the pipeline company’s stock worth $1,018,000 after buying an additional 1,227 shares during the period. Finally, OMERS ADMINISTRATION Corp raised its position in shares of Tc Pipelines by 94.4% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 7,506,205 shares of the pipeline company’s stock worth $377,974,000 after buying an additional 3,645,514 shares during the period. Institutional investors and hedge funds own 58.87% of the company’s stock.
NYSE:TRP traded down $0.12 during mid-day trading on Thursday, hitting $51.27. The company had a trading volume of 67,088 shares, compared to its average volume of 1,719,040. The business has a fifty day simple moving average of $50.77 and a 200-day simple moving average of $48.90. The company has a current ratio of 0.44, a quick ratio of 0.40 and a debt-to-equity ratio of 1.53. Tc Pipelines Lp has a 1 year low of $34.58 and a 1 year high of $52.69. The firm has a market capitalization of $48.04 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 2.36 and a beta of 0.75.
Tc Pipelines (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, August 1st. The pipeline company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.75 by $0.25. Tc Pipelines had a return on equity of 14.01% and a net margin of 30.39%. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period last year, the company posted $0.86 earnings per share. As a group, research analysts anticipate that Tc Pipelines Lp will post 3.12 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.568 dividend. The ex-dividend date is Friday, September 27th. This is a positive change from Tc Pipelines’s previous quarterly dividend of $0.56. This represents a $2.27 annualized dividend and a yield of 4.43%. Tc Pipelines’s dividend payout ratio (DPR) is 76.17%.
Several brokerages recently weighed in on TRP. CIBC reaffirmed an “average” rating and issued a $70.00 target price on shares of Tc Pipelines in a research report on Sunday, August 4th. Scotiabank lowered Tc Pipelines from an “outperform” rating to a “sector perform” rating in a research report on Thursday. Zacks Investment Research lowered Tc Pipelines from a “buy” rating to a “hold” rating and set a $53.00 target price on the stock. in a research report on Monday, July 8th. ValuEngine lowered Tc Pipelines from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Bank of America increased their target price on Tc Pipelines from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target 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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