Tc Pipelines (TRP) Reaches New 52-Week High at $49.05

Shares of Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) hit a new 52-week high during trading on Tuesday . The company traded as high as $49.05 and last traded at $48.91, with a volume of 15864 shares. The stock had previously closed at $48.39.

TRP has been the subject of a number of research analyst reports. Macquarie initiated coverage on Tc Pipelines in a research note on Thursday, January 24th. They issued a “neutral” rating for the company. Zacks Investment Research raised Tc Pipelines from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Tuesday, April 2nd. Evercore ISI initiated coverage on Tc Pipelines in a research note on Tuesday, February 5th. They issued a $60.00 price target for the company. Industrial Alliance Securities reaffirmed a “buy” rating on shares of Tc Pipelines in a research note on Monday, April 8th. Finally, GMP Securities reaffirmed a “buy” rating and issued a $69.00 price target on shares of Tc Pipelines in a research note on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $51.17.

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 stock has a market cap of $44.97 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 3.25 and a beta of 0.89.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 4.59%. The ex-dividend date is Thursday, June 27th. Tc Pipelines’s dividend payout ratio is currently 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 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,005 shares of the pipeline company’s stock, valued at approximately $135,000. 63.96% of the stock is currently owned by institutional investors and hedge funds.

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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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