TC Pipelines (TCP) Earns “Sell” Rating from Barclays

TC Pipelines (NYSE:TCP)‘s stock had its “sell” rating reissued by stock analysts at Barclays in a report released on Friday. They presently have a $55.00 price target on the pipeline company’s stock. Barclays’ price objective suggests a potential upside of 1.44% from the company’s current price.

A number of other research analysts have also recently weighed in on the stock. Citigroup upgraded shares of TC Pipelines from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Friday, December 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 price objective (down previously from $72.00) on shares of TC Pipelines in a research report on Thursday, November 9th. UBS Group cut their price objective on shares of TC Pipelines from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, November 7th. Wells Fargo & Co cut 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 research report on Wednesday, November 15th. Finally, Zacks Investment Research upgraded shares of TC Pipelines from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $59.89.

TC Pipelines (TCP) opened at $54.22 on Friday. 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 has a 1 year low of $48.55 and a 1 year high of $65.03. The firm has a market cap of $3,792.44, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 2.85 and a beta of 0.96.

TC Pipelines (NYSE:TCP) last posted its quarterly earnings data on Monday, November 6th. The pipeline company reported $0.61 earnings per share 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 for the quarter, compared to the consensus estimate of $126.78 million. equities research analysts expect that TC Pipelines will post 3.14 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. IHT Wealth Management LLC bought a new position in shares of TC Pipelines in the second quarter worth about $1,722,000. IFP Advisors Inc grew its holdings in shares of TC Pipelines by 5.3% in the first quarter. IFP Advisors Inc now owns 1,993 shares of the pipeline company’s stock worth $119,000 after purchasing an additional 100 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings 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 purchasing an additional 149 shares during the last quarter. Ffcm LLC grew its holdings 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 purchasing an additional 1,422 shares during the last quarter. Finally, Almanack Investment Partners LLC. bought a new position in shares of TC Pipelines in the first quarter worth about $138,000. 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.

Analyst Recommendations for TC Pipelines (NYSE:TCP)

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