Heritage Wealth Advisors bought a new position in TC PipeLines, LP (NYSE:TCP) during the first quarter, according to its most recent 13F filing with the SEC. The firm bought 10,447 shares of the pipeline company’s stock, valued at approximately $622,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. IFP Advisors Inc raised its position 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 buying an additional 100 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of TC PipeLines, by 0.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,500 shares of the pipeline company’s stock worth $148,000 after buying an additional 7 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its position in shares of TC PipeLines, by 60.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,785 shares of the pipeline company’s stock worth $166,000 after buying an additional 1,050 shares in the last quarter. Summit Asset Management LLC bought a new position in shares of TC PipeLines, during the third quarter worth approximately $214,000. Finally, Koch Industries Inc. bought a new position in shares of TC PipeLines, during the fourth quarter worth approximately $236,000. 60.20% of the stock is owned by institutional investors and hedge funds.
TC PipeLines, LP (TCP) traded up 1.76% during midday trading on Friday, reaching $53.25. 443,444 shares of the company’s stock traded hands. TC PipeLines, LP has a 1-year low of $47.12 and a 1-year high of $65.03. The stock’s 50 day moving average price is $57.02 and its 200 day moving average price is $58.29. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of 16.75 and a beta of 0.97.
TC PipeLines, (NYSE:TCP) last posted its earnings results on Thursday, May 4th. The pipeline company reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.07. TC PipeLines, had a return on equity of 19.04% and a net margin of 64.17%. The company had revenue of $89 million for the quarter, compared to the consensus estimate of $128 million. Equities research analysts anticipate that TC PipeLines, LP will post $3.21 EPS for the current year.
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Several research analysts recently issued reports on TCP shares. Zacks Investment Research raised shares of TC PipeLines, from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Barclays PLC upped their price objective on shares of TC PipeLines, from $48.00 to $59.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 7th. BidaskClub cut shares of TC PipeLines, from a “hold” rating to a “sell” rating in a research note on Saturday, June 10th. Finally, Wolfe Research initiated 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 on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. TC PipeLines, has a consensus rating of “Hold” and an average price target of $60.43.
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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