TC Pipelines, LP (TCP) Given Average Recommendation of “Hold” by Brokerages
Shares of TC Pipelines, LP (NYSE:TCP) have been given a consensus rating of “Hold” by the ten research firms that are presently covering the firm. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $58.86.
A number of brokerages have commented on TCP. Zacks Investment Research upgraded shares of TC Pipelines, from a “sell” rating to a “hold” rating in a research report on Monday, March 6th. Wolfe Research began coverage on shares of TC Pipelines, in a research report on Friday, May 12th. They set a “market perform” rating and a $60.00 price objective for the company. Barclays PLC upped their price objective on shares of TC Pipelines, from $48.00 to $59.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 7th. Finally, Ladenburg Thalmann Financial Services began coverage on shares of TC Pipelines, in a research report on Friday, January 20th. They set a “neutral” rating and a $61.00 price objective for the company.
A number of institutional investors have recently made changes to their positions in TCP. IFP Advisors Inc boosted its position in TC Pipelines, by 5.3% in the first quarter. IFP Advisors Inc now owns 1,993 shares of the pipeline company’s stock worth $119,000 after buying an additional 100 shares during the period. Almanack Investment Partners LLC. bought a new position in TC Pipelines, during the first quarter worth $138,000. Ladenburg Thalmann Financial Services Inc. boosted its position in TC Pipelines, by 0.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,500 shares of the pipeline company’s stock worth $148,000 after buying an additional 7 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position in TC Pipelines, by 60.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,785 shares of the pipeline company’s stock worth $166,000 after buying an additional 1,050 shares during the period. Finally, Summit Asset Management LLC bought a new position in TC Pipelines, during the third quarter worth $214,000. Institutional investors own 60.17% of the company’s stock.
TC Pipelines, (NYSE:TCP) traded up 0.36% during mid-day trading on Friday, reaching $57.93. 230,023 shares of the company traded hands. The stock’s 50 day moving average price is $59.01 and its 200 day moving average price is $57.61. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of 18.22 and a beta of 0.92. TC Pipelines, has a 52 week low of $47.12 and a 52 week high of $65.03.
TC Pipelines, (NYSE:TCP) last announced its quarterly earnings data on Thursday, May 4th. The pipeline company reported $1.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.07. The company had revenue of $89 million during the quarter, compared to the consensus estimate of $128 million. TC Pipelines, had a net margin of 9.01% and a return on equity of 20.15%. Equities analysts forecast that TC Pipelines, will post $3.21 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, May 5th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Wednesday, May 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 6.51%. TC Pipelines,’s payout ratio is currently 1,392.64%.
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About TC Pipelines,
TC PipeLines, LP is a master limited partnership. The Company 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. As of December 31, 2016, the Company had four pipelines and equity ownership interests in three natural gas interstate pipeline systems that are collectively designed to transport approximately 9.1 billion cubic feet per day of 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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