Franklin Resources Inc. Buys 2,481,854 Shares of TC PIPELINES LP Common Stock (TRP)

Franklin Resources Inc. grew its stake in TC PIPELINES LP Common Stock (NYSE:TRP) (TSE:TRP) by 55.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,944,739 shares of the pipeline company’s stock after buying an additional 2,481,854 shares during the quarter. Franklin Resources Inc. owned 0.78% of TC PIPELINES LP Common Stock worth $286,894,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bollard Group LLC lifted its stake in TC PIPELINES LP Common Stock by 1.0% during the fourth quarter. Bollard Group LLC now owns 110,317 shares of the pipeline company’s stock worth $5,366,000 after purchasing an additional 1,133 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in TC PIPELINES LP Common Stock by 37.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 5,910 shares of the pipeline company’s stock worth $288,000 after purchasing an additional 1,610 shares during the last quarter. Summit Global Investments lifted its stake in TC PIPELINES LP Common Stock by 13.9% during the first quarter. Summit Global Investments now owns 17,400 shares of the pipeline company’s stock worth $719,000 after purchasing an additional 2,120 shares during the last quarter. LPL Financial LLC lifted its stake in TC PIPELINES LP Common Stock by 28.5% during the fourth quarter. LPL Financial LLC now owns 9,720 shares of the pipeline company’s stock worth $473,000 after purchasing an additional 2,153 shares during the last quarter. Finally, FDx Advisors Inc. lifted its stake in TC PIPELINES LP Common Stock by 47.4% during the first quarter. FDx Advisors Inc. now owns 6,863 shares of the pipeline company’s stock worth $284,000 after purchasing an additional 2,206 shares during the last quarter. Institutional investors and hedge funds own 60.57% of the company’s stock.

TC PIPELINES LP Common Stock opened at $41.63 on Monday, according to Marketbeat Ratings. The company has a market cap of $37.09 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 1.69 and a beta of 0.63. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 1.58. TC PIPELINES LP Common Stock has a 52 week low of $39.16 and a 52 week high of $51.85.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Friday, June 29th will be issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date of this dividend is Thursday, June 28th. TC PIPELINES LP Common Stock’s payout ratio is currently 89.92%.

Several research firms have commented on TRP. TheStreet raised TC PIPELINES LP Common Stock from a “c+” rating to a “b” rating in a research report on Thursday, February 15th. Edward Jones raised TC PIPELINES LP Common Stock from a “hold” rating to a “buy” rating in a research report on Friday, February 16th. Zacks Investment Research raised TC PIPELINES LP Common Stock from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Friday, February 2nd. ValuEngine lowered TC PIPELINES LP Common Stock from a “hold” rating to a “sell” rating in a research report on Monday, May 7th. Finally, Morgan Stanley set a $50.00 price target on TC PIPELINES LP Common Stock and gave the stock a “buy” rating in a research report on Friday, March 16th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $59.75.

TC PIPELINES LP Common Stock 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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