Kayne Anderson Capital Advisors LP trimmed its stake in Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,056,205 shares of the pipeline company’s stock after selling 52,900 shares during the quarter. Tc Pipelines makes up 2.5% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 14th biggest position. Kayne Anderson Capital Advisors LP owned approximately 0.33% of Tc Pipelines worth $158,272,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. First Trust Advisors LP purchased a new position in Tc Pipelines in the third quarter valued at about $405,000. Creative Planning boosted its stake in Tc Pipelines by 26.4% in the third quarter. Creative Planning now owns 12,250 shares of the pipeline company’s stock valued at $634,000 after acquiring an additional 2,559 shares during the last quarter. First Mercantile Trust Co. boosted its stake in Tc Pipelines by 10.0% in the third quarter. First Mercantile Trust Co. now owns 6,939 shares of the pipeline company’s stock valued at $359,000 after acquiring an additional 633 shares during the last quarter. Wetherby Asset Management Inc. purchased a new position in Tc Pipelines in the third quarter valued at about $766,000. Finally, BB&T Corp purchased a new position in Tc Pipelines in the third quarter valued at about $263,000. Hedge funds and other institutional investors own 58.98% of the company’s stock.
A number of research analysts have weighed in on the stock. ValuEngine cut shares of Tc Pipelines from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Scotiabank cut shares of Tc Pipelines from an “outperform” rating to a “sector perform” rating in a research note on Thursday, October 10th. Citigroup upped their price target on shares of Tc Pipelines from $73.00 to $75.00 in a research note on Saturday, November 2nd. Credit Suisse Group set a $70.00 price target on shares of Tc Pipelines and gave the company a “hold” rating in a research note on Monday, October 21st. Finally, TD Securities cut shares of Tc Pipelines to a “buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $67.50.
Shares of TRP stock traded up $0.63 during trading on Friday, reaching $50.31. 1,211,044 shares of the company’s stock traded hands, compared to its average volume of 1,413,464. The company has a market capitalization of $46.44 billion, a P/E ratio of 16.88, a PEG ratio of 2.30 and a beta of 0.75. 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 firm’s 50-day moving average is $51.21 and its 200 day moving average is $49.66. Tc Pipelines Lp has a 1 year low of $34.58 and a 1 year high of $52.69.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.57 per share. 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%. The ex-dividend date of this dividend is Monday, December 30th. Tc Pipelines’s dividend payout ratio is presently 76.17%.
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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