Kayne Anderson Capital Advisors LP boosted its stake in shares of TC Pipelines, LP (NYSE:TCP) by 12.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,385,077 shares of the pipeline company’s stock after buying an additional 151,100 shares during the period. Kayne Anderson Capital Advisors LP owned about 2.02% of TC Pipelines, worth $82,620,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Third Security LLC purchased a new position in shares of TC Pipelines, during the fourth quarter valued at $5,707,000. Bank of Montreal Can increased its position in shares of TC Pipelines, by 2.7% in the first quarter. Bank of Montreal Can now owns 378,996 shares of the pipeline company’s stock valued at $22,611,000 after buying an additional 9,925 shares during the last quarter. Spirit of America Management Corp NY increased its position in TC Pipelines, by 10.7% in the first quarter. Spirit of America Management Corp NY now owns 222,184 shares of the pipeline company’s stock worth $13,255,000 after buying an additional 21,450 shares in the last quarter. Allianz Asset Management AG increased its position in TC Pipelines, by 49.7% in the fourth quarter. Allianz Asset Management AG now owns 743,146 shares of the pipeline company’s stock worth $43,727,000 after buying an additional 246,742 shares in the last quarter. Finally, Prudential Financial Inc. bought a new position in TC Pipelines, during the third quarter worth approximately $455,000. 60.17% of the stock is owned by hedge funds and other institutional investors.
TC Pipelines, LP (NYSE:TCP) traded up 0.36% on Friday, hitting $57.93. 230,023 shares of the stock were exchanged. TC Pipelines, LP has a 52 week low of $47.12 and a 52 week high of $65.03. The company’s 50-day moving average is $58.98 and its 200-day moving average is $57.65. The company has a market cap of $3.99 billion, a PE ratio of 18.22 and a beta of 0.92.
TC Pipelines, (NYSE:TCP) last announced its quarterly earnings data on Thursday, May 4th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.07. The firm had revenue of $89 million during the quarter, compared to the consensus estimate of $128 million. TC Pipelines, had a return on equity of 20.15% and a net margin of 9.01%. On average, analysts predict that TC Pipelines, LP will post $3.21 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, May 5th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 6.51%. The ex-dividend date was Wednesday, May 3rd. TC Pipelines,’s dividend payout ratio is currently 1,392.64%.
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A number of research firms have recently commented on TCP. Zacks Investment Research raised shares of TC Pipelines, from a “sell” rating to a “hold” rating in a research note on Monday, March 6th. Wolfe Research began coverage on shares of TC Pipelines, in a research note on Friday, May 12th. They set a “market perform” rating and a $60.00 price objective for the company. Barclays PLC upped their price objective on shares of TC Pipelines, from $48.00 to $59.00 and gave the company an “underweight” rating in a research note on Tuesday, March 7th. Finally, Ladenburg Thalmann Financial Services began coverage on shares of TC Pipelines, in a research note on Friday, January 20th. They set a “neutral” rating and a $61.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $59.75.
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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