TC PipeLines, LP (NYSE:TCP) has been assigned an average rating of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $60.86.

A number of equities analysts recently issued reports on TCP shares. Barclays restated 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. Wells Fargo & Company decreased their target price on TC PipeLines from $62.00 to $58.00 and set a “market perform” rating on the stock in a report on Wednesday, November 15th. Royal Bank Of Canada restated a “buy” rating and issued a $72.00 target price on shares of TC PipeLines in a report on Wednesday, September 27th. Zacks Investment Research upgraded TC PipeLines from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Tuesday, October 17th. Finally, BidaskClub cut TC PipeLines from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th.

Shares of TC PipeLines (NYSE:TCP) traded up $1.22 during mid-day trading on Thursday, hitting $51.97. The stock had a trading volume of 152,819 shares, compared to its average volume of 155,191. TC PipeLines has a one year low of $48.55 and a one year high of $65.03. The firm has a market cap of $3,542.97, a PE ratio of 16.41, a PEG ratio of 2.67 and a beta of 0.96. The company has a current ratio of 1.12, a quick ratio of 1.06 and a debt-to-equity ratio of 2.38.

TC PipeLines (NYSE:TCP) last issued its earnings results on Monday, November 6th. The pipeline company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.06). The company had revenue of $100.00 million during the quarter, compared to analyst estimates of $126.78 million. TC PipeLines had a return on equity of 21.46% and a net margin of 64.04%. sell-side analysts predict that TC PipeLines will post 3.16 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Friday, November 3rd were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 7.70%. The ex-dividend date was Thursday, November 2nd. TC PipeLines’s payout ratio is 129.45%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its position in shares of TC PipeLines by 8.0% in the second quarter. The Manufacturers Life Insurance Company now owns 2,013 shares of the pipeline company’s stock worth $111,000 after buying an additional 149 shares during the period. Ffcm LLC boosted its position in shares of TC PipeLines by 225.7% in the second quarter. Ffcm LLC now owns 2,052 shares of the pipeline company’s stock worth $120,000 after buying an additional 1,422 shares during the period. Penserra Capital Management LLC boosted its position in shares of TC PipeLines by 214.7% in the second quarter. Penserra Capital Management LLC now owns 2,813 shares of the pipeline company’s stock worth $154,000 after buying an additional 1,919 shares during the period. Cetera Investment Advisers acquired a new stake in shares of TC PipeLines in the second quarter worth $204,000. Finally, Wedbush Securities Inc. acquired a new stake in shares of TC PipeLines in the third quarter worth $204,000. Institutional investors and hedge funds own 60.97% of the company’s stock.

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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.

Analyst Recommendations for TC PipeLines (NYSE:TCP)

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