Tortoise Capital Advisors L.L.C. lifted its position in shares of Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) by 10.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,115,993 shares of the pipeline company’s stock after purchasing an additional 1,078,846 shares during the quarter. Tc Pipelines makes up about 3.8% of Tortoise Capital Advisors L.L.C.’s investment portfolio, making the stock its 11th largest position. Tortoise Capital Advisors L.L.C. owned 1.18% of Tc Pipelines worth $592,594,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Orion Portfolio Solutions LLC acquired a new stake in shares of Tc Pipelines during the 4th quarter worth approximately $25,000. Wealthcare Advisory Partners LLC acquired a new position in Tc Pipelines in the fourth quarter valued at about $25,000. Huntington National Bank grew its stake in Tc Pipelines by 144.4% in the fourth quarter. Huntington National Bank now owns 550 shares of the pipeline company’s stock valued at $29,000 after acquiring an additional 325 shares during the period. HBC Financial Services PLLC acquired a new position in Tc Pipelines in the fourth quarter valued at about $32,000. Finally, Global Retirement Partners LLC acquired a new position in shares of Tc Pipelines during the third quarter worth about $33,000. 62.66% of the stock is currently owned by institutional investors.
Shares of NYSE TRP traded up $2.08 during mid-day trading on Thursday, hitting $43.39. 3,804,800 shares of the stock traded hands, compared to its average volume of 2,394,503. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.59 and a quick ratio of 0.56. Tc Pipelines Lp has a twelve month low of $32.37 and a twelve month high of $57.92. The company has a market cap of $35.95 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 3.06 and a beta of 0.75. The firm has a 50 day simple moving average of $50.20 and a two-hundred day simple moving average of $51.46.
Tc Pipelines (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, February 13th. The pipeline company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.25. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $3.71 billion. Tc Pipelines had a return on equity of 13.97% and a net margin of 30.61%. During the same period last year, the company earned $1.03 EPS. On average, equities research analysts anticipate that Tc Pipelines Lp will post 3.1 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a $0.612 dividend. The ex-dividend date of this dividend is Monday, March 30th. This is an increase from Tc Pipelines’s previous quarterly dividend of $0.57. This represents a $2.45 annualized dividend and a dividend yield of 5.64%. Tc Pipelines’s dividend payout ratio (DPR) is currently 74.04%.
Several research analysts have recently weighed in on TRP shares. Barclays started coverage on Tc Pipelines in a research report on Thursday, March 5th. They set an “overweight” rating and a $80.00 price objective for the company. Industrial Alliance Securities upgraded Tc Pipelines to a “buy” rating and set a $65.00 target price on the stock in a report on Friday, March 20th. Morgan Stanley upgraded Tc Pipelines from an “underweight” rating to an “equal weight” rating and set a $55.00 price objective on the stock in a research note on Monday, March 16th. Goldman Sachs Group upgraded Tc Pipelines from a “sell” rating to a “neutral” rating in a research note on Sunday, February 23rd. Finally, JPMorgan Chase & Co. increased their price target on Tc Pipelines from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Tc Pipelines presently has a consensus rating of “Buy” and an average target price of $66.67.
Tc Pipelines 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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