Stifel Financial Corp Grows Position in Tc Pipelines Lp (NYSE:TRP)
Stifel Financial Corp raised its position in Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) by 42.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 194,404 shares of the pipeline company’s stock after purchasing an additional 57,891 shares during the quarter. Stifel Financial Corp’s holdings in Tc Pipelines were worth $10,046,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in TRP. Garrett Wealth Advisory Group LLC purchased a new position in shares of Tc Pipelines in the 3rd quarter worth about $29,000. Quest Capital Management Inc. ADV purchased a new position in shares of Tc Pipelines in the 3rd quarter worth about $29,000. Kistler Tiffany Companies LLC purchased a new position in shares of Tc Pipelines in the 3rd quarter worth about $37,000. NEXT Financial Group Inc raised its holdings in shares of Tc Pipelines by 32.1% in the 3rd quarter. NEXT Financial Group Inc now owns 847 shares of the pipeline company’s stock worth $44,000 after purchasing an additional 206 shares during the period. Finally, FTB Advisors Inc. raised its holdings in shares of Tc Pipelines by 240.0% in the 3rd quarter. FTB Advisors Inc. now owns 867 shares of the pipeline company’s stock worth $44,000 after purchasing an additional 612 shares during the period. Institutional investors own 63.20% of the company’s stock.
TRP stock opened at $50.47 on Tuesday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.71 and a current ratio of 0.75. Tc Pipelines Lp has a 1 year low of $34.58 and a 1 year high of $52.69. The firm has a market cap of $47.57 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 2.37 and a beta of 0.76. The stock has a 50-day simple moving average of $50.96 and a 200-day simple moving average of $50.09.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.52%. This is a positive change from Tc Pipelines’s previous quarterly dividend of $0.57. Tc Pipelines’s dividend payout ratio (DPR) is 76.17%.
TRP has been the topic of a number of research reports. Scotiabank downgraded Tc Pipelines from an “outperform” rating to a “sector perform” rating in a report on Thursday, October 10th. CIBC set a $73.00 price objective on Tc Pipelines and gave the stock a “buy” rating in a report on Sunday, November 3rd. TD Securities downgraded Tc Pipelines to a “buy” rating in a report on Monday, November 4th. Evercore ISI restated a “hold” rating and issued a $60.00 price objective on shares of Tc Pipelines in a report on Wednesday, November 20th. Finally, ValuEngine upgraded Tc Pipelines from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $66.43.
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: Is it Safe to Invest in Commodities?
Receive News & Ratings for Tc Pipelines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tc Pipelines and related companies with MarketBeat.com's FREE daily email newsletter.