Foundations Investment Advisors LLC raised its position in Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) by 23.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 25,755 shares of the pipeline company’s stock after buying an additional 4,890 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Tc Pipelines were worth $1,295,000 as of its most recent SEC filing.
Shares of TRP traded down $0.41 during mid-day trading on Tuesday, reaching $50.31. 920,998 shares of the company were exchanged, compared to its average volume of 1,359,835. Tc Pipelines Lp has a 52 week low of $34.58 and a 52 week high of $51.36. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.37 and a quick ratio of 0.34. The company has a market capitalization of $47.12 billion, a PE ratio of 16.88, a PEG ratio of 3.34 and a beta of 0.79. The stock has a 50 day simple moving average of $49.84.
Tc Pipelines (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.04. Tc Pipelines had a return on equity of 13.72% and a net margin of 28.60%. The company had revenue of $2.62 billion during the quarter. Equities research analysts predict that Tc Pipelines Lp will post 3.02 EPS for the current fiscal year.
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 of this dividend is Thursday, June 27th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.45%. Tc Pipelines’s dividend payout ratio (DPR) is 76.85%.
Several analysts recently weighed in on the company. Credit Suisse Group set a €80.00 ($93.02) price objective on Siltronic and gave the stock a “neutral” rating in a research report on Wednesday, May 29th. Scotiabank reiterated an “average” rating and issued a $72.00 target price on shares of Tc Pipelines in a research report on Tuesday, May 28th. Industrial Alliance Securities reiterated a “buy” rating on shares of Tc Pipelines in a research report on Monday, April 8th. GMP Securities reiterated a “hold” rating and issued a $48.00 target price on shares of Suncor Energy in a research report on Tuesday, May 7th. Finally, Zacks Investment Research upgraded Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Monday, July 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $54.43.
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: Management Fee
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