Shares of Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) have received a consensus rating of “Buy” from the twenty-two research firms that are currently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $69.42.
TRP has been the subject of a number of research analyst reports. Wells Fargo & Co boosted their target price on Tc Pipelines from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Tuesday, April 14th. Royal Bank of Canada reissued a “buy” rating on shares of Tc Pipelines in a report on Monday, May 4th. Morgan Stanley raised Tc Pipelines from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $64.00 to $70.00 in a report on Monday, June 1st. Tudor Pickering reissued a “buy” rating on shares of Tc Pipelines in a report on Tuesday, March 31st. Finally, UBS Group boosted their price objective on Tc Pipelines from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, April 6th.
Tc Pipelines stock traded down $1.13 during midday trading on Friday, reaching $41.78. The stock had a trading volume of 2,283,859 shares, compared to its average volume of 1,490,613. Tc Pipelines has a 12 month low of $32.37 and a 12 month high of $57.92. The company has a market capitalization of $40.33 billion, a P/E ratio of 12.62, a PEG ratio of 3.60 and a beta of 0.73. The company has a fifty day moving average price of $44.49 and a two-hundred day moving average price of $48.61. The company has a current ratio of 0.51, a quick ratio of 0.49 and a debt-to-equity ratio of 1.47.
The company also recently disclosed a — dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be paid a $0.5742 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a yield of 5%. Tc Pipelines’s payout ratio is 73.08%.
Institutional investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. lifted its stake in Tc Pipelines by 45.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 73,767 shares of the pipeline company’s stock valued at $3,924,000 after purchasing an additional 22,891 shares during the last quarter. Colony Group LLC lifted its stake in Tc Pipelines by 72.1% in the first quarter. Colony Group LLC now owns 9,466 shares of the pipeline company’s stock valued at $419,000 after purchasing an additional 3,966 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of Tc Pipelines by 21.7% during the fourth quarter. Nuveen Asset Management LLC now owns 344,861 shares of the pipeline company’s stock worth $18,385,000 after acquiring an additional 61,544 shares in the last quarter. AXA lifted its position in shares of Tc Pipelines by 3.7% during the fourth quarter. AXA now owns 194,697 shares of the pipeline company’s stock worth $10,379,000 after acquiring an additional 7,000 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its position in shares of Tc Pipelines by 20.6% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 469,032 shares of the pipeline company’s stock worth $25,004,000 after acquiring an additional 80,117 shares in the last quarter. Institutional investors and hedge funds own 65.73% of the company’s stock.
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.
Further Reading: Margin
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