TC Pipelines (TCP) Earns Hold Rating from Analysts at Tudor Pickering
Investment analysts at Tudor Pickering began coverage on shares of TC Pipelines (NYSE:TCP) in a report released on Friday. The brokerage set a “hold” rating and a $58.00 price target on the pipeline company’s stock. Tudor Pickering’s target price suggests a potential upside of 5.13% from the stock’s current price.
A number of other equities research analysts have also issued reports on TCP. Bank of America assumed coverage on TC Pipelines in a research report on Tuesday. They issued a “neutral” rating on the stock. Royal Bank of Canada reissued a “buy” rating and issued a $72.00 target price on shares of TC Pipelines in a research report on Wednesday, September 27th. Zacks Investment Research raised TC Pipelines from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Tuesday, October 17th. Wells Fargo & Co dropped their target price on TC Pipelines from $62.00 to $58.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 15th. Finally, UBS Group dropped their target price on TC Pipelines from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. TC Pipelines presently has a consensus rating of “Hold” and an average target price of $60.22.
Shares of TC Pipelines (TCP) traded up $0.64 during trading on Friday, reaching $55.17. The company had a trading volume of 258,700 shares, compared to its average volume of 255,340. TC Pipelines has a 1-year low of $48.55 and a 1-year high of $65.03. The firm has a market cap of $3,860.00, a price-to-earnings ratio of 18.27, a PEG ratio of 2.81 and a beta of 0.96. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.06 and a current ratio of 1.12.
TC Pipelines (NYSE:TCP) last announced 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). TC Pipelines had a net margin of 64.04% and a return on equity of 21.46%. The firm had revenue of $100.00 million during the quarter, compared to analyst estimates of $126.78 million. analysts anticipate that TC Pipelines will post 3.14 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of TCP. Alps Advisors Inc. grew its stake in TC Pipelines by 12.0% in the third quarter. Alps Advisors Inc. now owns 4,238,723 shares of the pipeline company’s stock valued at $221,770,000 after purchasing an additional 453,552 shares in the last quarter. Center Coast Capital Advisors LP grew its stake in TC Pipelines by 6.6% in the third quarter. Center Coast Capital Advisors LP now owns 4,034,823 shares of the pipeline company’s stock valued at $211,102,000 after purchasing an additional 251,245 shares in the last quarter. ING Groep NV grew its stake in TC Pipelines by 262.7% in the third quarter. ING Groep NV now owns 219,514 shares of the pipeline company’s stock valued at $11,485,000 after purchasing an additional 159,000 shares in the last quarter. Nordea Investment Management AB bought a new position in TC Pipelines in the second quarter valued at approximately $8,091,000. Finally, JPMorgan Chase & Co. grew its stake in TC Pipelines by 14.7% in the third quarter. JPMorgan Chase & Co. now owns 931,869 shares of the pipeline company’s stock valued at $48,830,000 after purchasing an additional 119,210 shares in the last quarter. Hedge funds and other institutional investors own 60.96% 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.
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