TC PipeLines, LP (NYSE:TCP) Given Sell Rating at Barclays PLC
TC PipeLines, LP (NYSE:TCP)‘s stock had its “sell” rating reaffirmed by research analysts at Barclays PLC in a report released on Friday. They presently have a $57.00 price objective on the pipeline company’s stock. Barclays PLC’s price target would indicate a potential upside of 0.55% from the stock’s current price.
A number of other analysts also recently issued reports on the company. Zacks Investment Research downgraded TC PipeLines, from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. BidaskClub downgraded TC PipeLines, from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Wolfe Research assumed coverage on TC PipeLines, in a research report on Friday, May 12th. They issued a “market perform” rating and a $60.00 price target for the company. Finally, UBS AG restated a “buy” rating and issued a $68.00 price target (up from $67.00) on shares of TC PipeLines, in a research report on Friday, May 5th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $62.29.
TC PipeLines, (TCP) remained flat at $56.69 during midday trading on Friday. 156,502 shares of the company’s stock were exchanged. TC PipeLines, has a 12 month low of $47.12 and a 12 month high of $65.03. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 17.83 and a beta of 0.96. The firm’s 50 day moving average price is $55.41 and its 200-day moving average price is $58.55.
TC PipeLines, (NYSE:TCP) last issued its quarterly earnings results on Thursday, May 4th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 19.04% and a net margin of 64.17%. On average, analysts anticipate that TC PipeLines, will post $3.26 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in TCP. IFP Advisors Inc increased its stake in TC PipeLines, by 5.3% in the first quarter. IFP Advisors Inc now owns 1,993 shares of the pipeline company’s stock valued at $119,000 after buying an additional 100 shares during the period. Almanack Investment Partners LLC. acquired a new stake in TC PipeLines, during the first quarter valued at $138,000. Ladenburg Thalmann Financial Services Inc. increased its stake 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 valued at $148,000 after buying an additional 7 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake 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 valued at $166,000 after buying an additional 1,050 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in TC PipeLines, during the first quarter valued at $217,000. Institutional investors and hedge funds own 60.42% of the company’s stock.
TC PipeLines, Company Profile
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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