Tc Pipelines Lp (NYSE:TRP) (TSE:TRP)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $47.99 and last traded at $48.06, with a volume of 108518 shares changing hands. The stock had previously closed at $47.35.
A number of brokerages have issued reports on TRP. GMP Securities reaffirmed a “buy” rating and set a $71.00 price target on shares of Tc Pipelines in a research note on Tuesday, May 7th. Zacks Investment Research lowered Tc Pipelines from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Industrial Alliance Securities reaffirmed a “buy” rating on shares of Tc Pipelines in a research note on Monday, April 8th. Evercore ISI started coverage on Tc Pipelines in a research report on Tuesday, February 5th. They set a $60.00 price objective for the company. Finally, Macquarie started coverage on Tc Pipelines in a research report on Thursday, January 24th. They set a “neutral” rating for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $51.17.
The stock has a market cap of $44.50 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 3.19 and a beta of 0.89. The company has a quick ratio of 0.34, a current ratio of 0.37 and a debt-to-equity ratio of 1.58.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.56 per share. The ex-dividend date is Thursday, June 27th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.58%. Tc Pipelines’s dividend payout ratio (DPR) is presently 75.17%.
A hedge fund recently bought a new stake in Tc Pipelines stock. C M Bidwell & Associates Ltd. acquired a new stake in shares of Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,005 shares of the pipeline company’s stock, valued at approximately $135,000. Institutional investors and hedge funds own 63.96% of the company’s stock.
About Tc Pipelines (NYSE:TRP)
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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