Andra AP fonden Buys New Shares in Tc Pipelines Lp (NYSE:TRP)

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Andra AP fonden bought a new stake in shares of Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 49,300 shares of the pipeline company’s stock, valued at approximately $3,382,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TRP. Commonwealth Equity Services LLC lifted its stake in shares of Tc Pipelines by 4.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 24,842 shares of the pipeline company’s stock valued at $1,230,000 after buying an additional 1,099 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in shares of Tc Pipelines by 8.3% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 3,109,105 shares of the pipeline company’s stock valued at $153,951,000 after buying an additional 237,500 shares in the last quarter. KCS Wealth Advisory lifted its stake in shares of Tc Pipelines by 2.3% during the 2nd quarter. KCS Wealth Advisory now owns 22,534 shares of the pipeline company’s stock valued at $1,116,000 after buying an additional 513 shares in the last quarter. AGF Investments LLC purchased a new position in shares of Tc Pipelines during the 2nd quarter valued at $87,000. Finally, Aperio Group LLC lifted its stake in shares of Tc Pipelines by 2.0% during the 2nd quarter. Aperio Group LLC now owns 260,075 shares of the pipeline company’s stock valued at $12,879,000 after buying an additional 5,219 shares in the last quarter. Institutional investors own 63.20% of the company’s stock.

Shares of NYSE TRP opened at $50.47 on Tuesday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.71 and a current ratio of 0.75. The company has a market cap of $47.57 billion, a P/E ratio of 16.94, a P/E/G ratio of 2.37 and a beta of 0.76. The firm’s fifty day moving average is $50.96 and its two-hundred day moving average is $50.09. Tc Pipelines Lp has a 52-week low of $34.58 and a 52-week high of $52.69.

Tc Pipelines (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.03. The company had revenue of $2.37 billion for the quarter. Tc Pipelines had a net margin of 29.37% and a return on equity of 14.12%. As a group, analysts forecast that Tc Pipelines Lp will post 3.07 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.57 dividend. The ex-dividend date 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 dividend yield of 4.52%. Tc Pipelines’s payout ratio is 76.17%.

A number of analysts have issued reports on TRP shares. ValuEngine upgraded shares of Tc Pipelines from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Credit Suisse Group set a $70.00 price target on shares of Tc Pipelines and gave the company a “hold” rating in a report on Monday, October 21st. CIBC set a $73.00 price target on shares of Tc Pipelines and gave the company a “buy” rating in a report on Sunday, November 3rd. TD Securities downgraded shares of Tc Pipelines to a “buy” rating in a report on Monday, November 4th. Finally, Scotiabank downgraded shares of Tc Pipelines from an “outperform” rating to a “sector perform” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $66.43.

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.

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

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