TC PipeLines, LP (TCP) Given Average Rating of “Hold” by Analysts
Shares of TC PipeLines, LP (NYSE:TCP) have been assigned an average recommendation of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $63.80.
Several research analysts have recently commented on TCP shares. Barclays PLC reissued an “underweight” rating and issued a $58.00 target price (up from $57.00) on shares of TC PipeLines, in a report on Wednesday, August 9th. BidaskClub cut shares of TC PipeLines, from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Zacks Investment Research cut shares of TC PipeLines, from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $72.00 price objective on shares of TC PipeLines, in a research report on Monday, August 21st.
A number of hedge funds have recently bought and sold shares of TCP. Kayne Anderson Capital Advisors LP raised its position in TC PipeLines, by 33.8% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 1,853,077 shares of the pipeline company’s stock worth $101,908,000 after purchasing an additional 468,000 shares during the last quarter. Alps Advisors Inc. raised its position in TC PipeLines, by 4.6% in the 2nd quarter. Alps Advisors Inc. now owns 3,785,171 shares of the pipeline company’s stock worth $208,184,000 after purchasing an additional 166,952 shares during the last quarter. Bank of Montreal Can raised its position in TC PipeLines, by 40.8% in the 2nd quarter. Bank of Montreal Can now owns 533,564 shares of the pipeline company’s stock worth $29,346,000 after purchasing an additional 154,568 shares during the last quarter. Nordea Investment Management AB bought a new position in TC PipeLines, in the 2nd quarter worth approximately $8,091,000. Finally, Marshall Wace North America L.P. bought a new position in TC PipeLines, in the 2nd quarter worth approximately $5,815,000. Hedge funds and other institutional investors own 60.61% of the company’s stock.
TC PipeLines, (TCP) traded down 1.74% during mid-day trading on Friday, reaching $50.75. The company had a trading volume of 202,336 shares. The company’s 50 day moving average is $52.34 and its 200 day moving average is $56.38. TC PipeLines, has a 52-week low of $47.12 and a 52-week high of $65.03. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 16.17 and a beta of 0.99.
TC PipeLines, (NYSE:TCP) last announced its earnings results on Wednesday, August 2nd. The pipeline company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.01). The business had revenue of $101.00 million during the quarter, compared to analyst estimates of $117.39 million. TC PipeLines, had a return on equity of 19.77% and a net margin of 62.63%. Equities analysts predict that TC PipeLines, will post $3.23 earnings per share for the current year.
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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