DekaBank Deutsche Girozentrale Purchases 122,699 Shares of Tc Pipelines Lp (NYSE:TRP)

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DekaBank Deutsche Girozentrale grew its stake in shares of Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) by 12.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,112,915 shares of the pipeline company’s stock after buying an additional 122,699 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Tc Pipelines were worth $54,648,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TRP. Kayne Anderson Capital Advisors LP lifted its position in shares of Tc Pipelines by 8.3% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 3,109,105 shares of the pipeline company’s stock valued at $153,951,000 after buying an additional 237,500 shares in the last quarter. Clark Capital Management Group Inc. lifted its position in shares of Tc Pipelines by 60.4% during the 2nd quarter. Clark Capital Management Group Inc. now owns 579,236 shares of the pipeline company’s stock valued at $28,780,000 after buying an additional 218,097 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Tc Pipelines during the 2nd quarter valued at about $556,000. Fox Run Management L.L.C. purchased a new position in shares of Tc Pipelines during the 2nd quarter valued at about $385,000. Finally, Aperio Group LLC lifted its position in shares of Tc Pipelines by 2.0% during the 2nd quarter. Aperio Group LLC now owns 260,075 shares of the pipeline company’s stock valued at $12,879,000 after buying an additional 5,219 shares in the last quarter. 54.13% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:TRP opened at $49.48 on Wednesday. The company has a current ratio of 0.44, a quick ratio of 0.40 and a debt-to-equity ratio of 1.53. Tc Pipelines Lp has a 1 year low of $34.58 and a 1 year high of $51.36. The business has a 50 day moving average price of $49.50. The company has a market cap of $44.82 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 2.69 and a beta of 0.81.

Tc Pipelines (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, August 1st. The pipeline company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.25. Tc Pipelines had a return on equity of 14.01% and a net margin of 30.39%. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the previous year, the company posted $0.86 EPS. On average, equities research analysts expect that Tc Pipelines Lp will post 3.09 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.568 dividend. This is an increase from Tc Pipelines’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.27 dividend on an annualized basis and a yield of 4.59%. Tc Pipelines’s payout ratio is presently 75.17%.

A number of research firms have recently weighed in on TRP. Bank of America lifted their price objective on Tc Pipelines from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. ValuEngine cut Tc Pipelines from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. GMP Securities reaffirmed a “buy” rating and set a $71.00 price objective on shares of Tc Pipelines in a research report on Tuesday, May 7th. Scotiabank reaffirmed an “average” rating and set a $72.00 price objective on shares of Tc Pipelines in a research report on Tuesday, May 28th. Finally, CIBC reissued an “average” rating and issued a $70.00 price target on shares of Tc Pipelines in a report on Sunday, August 4th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. Tc Pipelines currently has an average rating of “Hold” and an average target price of $57.44.

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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Institutional Ownership by Quarter for Tc Pipelines (NYSE:TRP)

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