TC Pipelines, LP (TCP) Receives Consensus Rating of “Hold” from Analysts
TC Pipelines, LP (NYSE:TCP) has earned an average recommendation of “Hold” from the ten analysts that are currently covering the company. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $54.14.
Several research firms recently weighed in on TCP. Zacks Investment Research downgraded shares of TC Pipelines, from a “buy” rating to a “hold” rating in a report on Monday, September 19th. TheStreet downgraded shares of TC Pipelines, from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Citigroup Inc. boosted their price target on shares of TC Pipelines, from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $53.00 price target on shares of TC Pipelines, in a research note on Wednesday, July 20th. Finally, Barclays PLC downgraded shares of TC Pipelines, from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $53.00 to $49.00 in a research note on Monday, June 20th.
Large investors have recently made changes to their positions in the stock. Spirit of America Management Corp NY boosted its stake in shares of TC Pipelines, by 1.2% in the third quarter. Spirit of America Management Corp NY now owns 167,284 shares of the company’s stock worth $9,540,000 after buying an additional 1,950 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of TC Pipelines, by 10.1% in the third quarter. BNP Paribas Arbitrage SA now owns 18,047 shares of the company’s stock worth $1,029,000 after buying an additional 1,655 shares during the period. CT Mason boosted its stake in shares of TC Pipelines, by 4.3% in the third quarter. CT Mason now owns 111,763 shares of the company’s stock worth $6,374,000 after buying an additional 4,641 shares during the period. Williams Jones & Associates LLC boosted its stake in shares of TC Pipelines, by 2.8% in the second quarter. Williams Jones & Associates LLC now owns 10,864 shares of the company’s stock worth $622,000 after buying an additional 300 shares during the period. Finally, Cohen & Steers Inc. boosted its stake in shares of TC Pipelines, by 1,201.8% in the second quarter. Cohen & Steers Inc. now owns 2,593,518 shares of the company’s stock worth $217,155,000 after buying an additional 2,394,295 shares during the period.
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TC Pipelines, (NYSE:TCP) traded down 1.52% during trading on Monday, hitting $56.26. The company had a trading volume of 46,417 shares. TC Pipelines, has a 52-week low of $34.25 and a 52-week high of $60.48. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 172.58 and a beta of 0.73. The firm’s 50 day moving average is $54.78 and its 200-day moving average is $54.24.
TC Pipelines, (NYSE:TCP) last posted its earnings results on Thursday, August 4th. The company reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.12. On average, equities analysts forecast that TC Pipelines, will post $3.24 earnings per share for the current year.
TC Pipelines, Company Profile
TC PipeLines, LP is a limited partnership company that acquires, owns and participates in the management of energy infrastructure businesses in North America. The Company’s pipeline systems transport natural gas in the United States. The Company has approximately four pipelines and equity ownership interests in over three natural gas interstate pipeline systems that are collectively designed to transport natural gas from producing regions and import facilities to market hubs, and consuming markets primarily in the Western, Midwestern and Eastern United States.
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