The Manufacturers Life Insurance Company Cuts Stake in TC PIPELINES LP Common Stock (TRP)

The Manufacturers Life Insurance Company trimmed its position in TC PIPELINES LP Common Stock (NYSE:TRP) (TSE:TRP) by 16.8% during the first quarter, HoldingsChannel reports. The firm owned 3,255,835 shares of the pipeline company’s stock after selling 657,968 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in TC PIPELINES LP Common Stock were worth $134,499,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of TRP. Aevitas Wealth Management Inc. bought a new stake in shares of TC PIPELINES LP Common Stock in the fourth quarter valued at about $117,000. Icon Wealth Partners LLC bought a new stake in shares of TC PIPELINES LP Common Stock in the fourth quarter valued at about $162,000. Signaturefd LLC bought a new stake in shares of TC PIPELINES LP Common Stock in the first quarter valued at about $175,000. Stephens Inc. AR bought a new stake in shares of TC PIPELINES LP Common Stock in the first quarter valued at about $212,000. Finally, Bayesian Capital Management LP bought a new stake in shares of TC PIPELINES LP Common Stock in the first quarter valued at about $223,000. Institutional investors own 60.63% of the company’s stock.

A number of analysts have recently commented on TRP shares. Zacks Investment Research lowered TC PIPELINES LP Common Stock from a “hold” rating to a “strong sell” rating in a report on Thursday, April 19th. Morgan Stanley cut their price target on TC PIPELINES LP Common Stock from $50.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, March 23rd. Citigroup dropped their target price on TC PIPELINES LP Common Stock from $71.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, March 28th. Wells Fargo & Co lowered TC PIPELINES LP Common Stock from an “outperform” rating to a “market perform” rating in a report on Thursday, March 22nd. Finally, Royal Bank of Canada dropped their target price on TC PIPELINES LP Common Stock and set an “outperform” rating on the stock in a report on Monday, April 30th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $59.75.

TRP opened at $41.88 on Wednesday. TC PIPELINES LP Common Stock has a 52-week low of $39.16 and a 52-week high of $51.85. The stock has a market cap of $37.75 billion, a P/E ratio of 17.60, a P/E/G ratio of 1.72 and a beta of 0.64. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.35 and a current ratio of 0.38.

TC PIPELINES LP Common Stock (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, April 27th. The pipeline company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.14. TC PIPELINES LP Common Stock had a return on equity of 12.85% and a net margin of 23.98%. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.24 billion. equities research analysts predict that TC PIPELINES LP Common Stock will post 2.59 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Investors of record on Friday, June 29th will be issued a dividend of $0.535 per share. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $2.14 annualized dividend and a yield of 5.11%. TC PIPELINES LP Common Stock’s payout ratio is presently 89.92%.

TC PIPELINES LP Common Stock Company Profile

TransCanada 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 and individual facilities, interconnecting pipelines, and other businesses.

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Institutional Ownership by Quarter for TC PIPELINES LP Common Stock (NYSE:TRP)

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