CLARET ASSET MANAGEMENT Corp lessened its holdings in shares of Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) by 8.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,226 shares of the pipeline company’s stock after selling 1,709 shares during the period. CLARET ASSET MANAGEMENT Corp’s holdings in Tc Pipelines were worth $996,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Arden Trust Co acquired a new stake in Tc Pipelines during the third quarter valued at approximately $508,000. Diversified Trust Co acquired a new stake in Tc Pipelines during the third quarter valued at approximately $304,000. Northstar Investment Advisors LLC lifted its stake in Tc Pipelines by 2.2% during the third quarter. Northstar Investment Advisors LLC now owns 158,775 shares of the pipeline company’s stock valued at $8,136,000 after purchasing an additional 3,482 shares during the last quarter. Foundations Investment Advisors LLC lifted its stake in Tc Pipelines by 19.3% during the third quarter. Foundations Investment Advisors LLC now owns 30,730 shares of the pipeline company’s stock valued at $1,563,000 after purchasing an additional 4,975 shares during the last quarter. Finally, Fulton Bank N.A. acquired a new stake in Tc Pipelines during the third quarter valued at approximately $682,000. 58.87% of the stock is owned by institutional investors and hedge funds.
Shares of TRP stock traded down $0.07 during trading hours on Friday, reaching $51.20. 27,407 shares of the stock traded hands, compared to its average volume of 1,698,314. Tc Pipelines Lp has a 1-year low of $34.58 and a 1-year high of $52.69. The business has a fifty day moving average price of $50.83 and a 200 day moving average price of $48.93. The company has a quick ratio of 0.40, a current ratio of 0.44 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $48.09 billion, a PE ratio of 17.18, a PEG ratio of 2.33 and a beta of 0.75.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.568 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.27 dividend on an annualized basis and a dividend yield of 4.44%. This is a positive change from Tc Pipelines’s previous quarterly dividend of $0.56. Tc Pipelines’s payout ratio is currently 76.17%.
Several analysts recently commented on TRP shares. ValuEngine lowered shares of Tc Pipelines from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Zacks Investment Research lowered shares of Tc Pipelines from a “buy” rating to a “hold” rating and set a $53.00 target price for the company. in a research note on Monday, July 8th. CIBC reissued an “average” rating and set a $70.00 target price on shares of Tc Pipelines in a research note on Sunday, August 4th. Bank of America increased their target price on shares of Tc Pipelines from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Scotiabank lowered shares of Tc Pipelines from an “outperform” rating to a “sector perform” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $65.33.
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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