TC PipeLines (TCP) Upgraded at Citigroup
TC PipeLines (NYSE:TCP) was upgraded by investment analysts at Citigroup from a “neutral” rating to a “buy” rating in a report released on Friday, MarketBeat reports. The firm currently has a $58.00 price target on the pipeline company’s stock. Citigroup’s price target suggests a potential upside of 11.50% from the stock’s previous close.
Other equities research analysts have also issued reports about the stock. UBS reduced their price objective on shares of TC PipeLines from $63.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, November 7th. Wells Fargo & Company reduced their price objective on shares of 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 price objective on shares of TC PipeLines in a report on Monday, August 21st. BidaskClub lowered shares of TC PipeLines from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Finally, Zacks Investment Research upgraded shares of TC PipeLines from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $60.50.
Shares of TC PipeLines (NYSE TCP) traded up $0.05 on Friday, hitting $52.02. 268,300 shares of the stock were exchanged, compared to its average volume of 155,668. TC PipeLines has a fifty-two week low of $48.55 and a fifty-two week high of $65.03. The firm has a market cap of $3,546.46, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 2.69 and a beta of 0.96. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.12 and a quick ratio of 1.06.
Large investors have recently made changes to their positions in the stock. IHT Wealth Management LLC acquired a new stake in TC PipeLines during the 2nd quarter worth $1,722,000. The Manufacturers Life Insurance Company raised its stake in TC PipeLines by 8.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,013 shares of the pipeline company’s stock worth $111,000 after acquiring an additional 149 shares in the last quarter. Ffcm LLC raised its stake in TC PipeLines by 225.7% during the 2nd quarter. Ffcm LLC now owns 2,052 shares of the pipeline company’s stock worth $120,000 after acquiring an additional 1,422 shares in the last quarter. Penserra Capital Management LLC grew its position in TC PipeLines by 214.7% during the 2nd quarter. Penserra Capital Management LLC now owns 2,813 shares of the pipeline company’s stock worth $154,000 after purchasing an additional 1,919 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new position in TC PipeLines during the 2nd quarter worth $204,000. Hedge funds and other institutional investors own 60.97% 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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