Tc Pipelines Sees Unusually High Options Volume (NYSE:TRP)
Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) saw some unusual options trading on Friday. Investors purchased 4,448 call options on the company. This is an increase of 1,052% compared to the average volume of 386 call options.
TRP has been the topic of a number of recent analyst reports. Evercore ISI initiated coverage on Tc Pipelines in a research report on Friday, February 14th. They issued a “hold” rating and a $60.00 target price on the stock. Industrial Alliance Securities raised Tc Pipelines to a “buy” rating and set a $65.00 target price on the stock in a research report on Friday, March 20th. Bank of America raised Tc Pipelines from a “neutral” rating to a “buy” rating in a research report on Monday, March 9th. Barclays started coverage on Tc Pipelines in a research report on Thursday, March 5th. They set an “overweight” rating and a $80.00 price target on the stock. Finally, ValuEngine raised Tc Pipelines from a “sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Tc Pipelines presently has an average rating of “Buy” and an average price target of $66.67.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. 1832 Asset Management L.P. grew its stake in Tc Pipelines by 3.7% during the 4th quarter. 1832 Asset Management L.P. now owns 11,344,254 shares of the pipeline company’s stock worth $601,341,000 after buying an additional 406,394 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its stake in Tc Pipelines by 10.7% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 11,115,993 shares of the pipeline company’s stock worth $592,594,000 after buying an additional 1,078,846 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Tc Pipelines by 1.1% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 10,397,409 shares of the pipeline company’s stock worth $554,528,000 after purchasing an additional 118,188 shares in the last quarter. Norges Bank bought a new position in shares of Tc Pipelines in the fourth quarter worth $454,919,000. Finally, Great West Life Assurance Co. Can grew its stake in shares of Tc Pipelines by 5.2% in the fourth quarter. Great West Life Assurance Co. Can now owns 5,405,228 shares of the pipeline company’s stock worth $285,100,000 after purchasing an additional 268,334 shares in the last quarter. Hedge funds and other institutional investors own 62.66% of the company’s stock.
Tc Pipelines (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, February 13th. The pipeline company reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.25. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $3.71 billion. Tc Pipelines had a return on equity of 13.97% and a net margin of 30.61%. During the same period in the prior year, the company posted $1.03 EPS. On average, research analysts forecast that Tc Pipelines will post 2.89 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.612 per share. This is an increase from Tc Pipelines’s previous quarterly dividend of $0.57. This represents a $2.45 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date is Monday, March 30th. Tc Pipelines’s dividend payout ratio is presently 74.04%.
Tc Pipelines Company Profile
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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