Proficio Capital Partners LLC acquired a new stake in shares of TC Pipelines, LP (NYSE:TCP) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,725 shares of the pipeline company’s stock, valued at approximately $217,000.
Other large investors also recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in TC Pipelines, during the fourth quarter valued at about $520,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in 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 valued at $148,000 after buying an additional 7 shares during the period. Infrastructure Capital Advisors LLC bought a new stake in TC Pipelines, during the fourth quarter valued at about $2,015,000. Catawba Capital Management VA boosted its stake in TC Pipelines, by 2.5% in the first quarter. Catawba Capital Management VA now owns 16,287 shares of the pipeline company’s stock valued at $972,000 after buying an additional 390 shares during the period. Finally, Creative Planning boosted its stake in TC Pipelines, by 7.7% in the first quarter. Creative Planning now owns 6,912 shares of the pipeline company’s stock valued at $412,000 after buying an additional 494 shares during the period. 60.20% of the stock is owned by institutional investors.
Shares of TC Pipelines, LP (TCP) traded up 3.51% during midday trading on Friday, hitting $53.07. 208,884 shares of the stock traded hands. TC Pipelines, LP has a 52-week low of $47.12 and a 52-week high of $65.03. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 16.69 and a beta of 0.97. The stock has a 50-day moving average of $56.58 and a 200-day moving average of $58.39.
TC Pipelines, (NYSE:TCP) last issued its quarterly earnings results on Thursday, May 4th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.07. TC Pipelines, had a net margin of 84.27% and a return on equity of 23.48%. The company had revenue of $89 million during the quarter, compared to the consensus estimate of $128 million. On average, equities analysts predict that TC Pipelines, LP will post $3.21 earnings per share for the current fiscal year.
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Several equities research analysts have 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 Monday, March 6th. Barclays PLC upped their price target on shares of TC Pipelines, from $48.00 to $59.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 7th. Wolfe Research assumed coverage on shares of TC Pipelines, in a research report on Friday, May 12th. They issued a “market perform” rating and a $60.00 price target for the company. Finally, BidaskClub cut shares of TC Pipelines, from a “hold” rating to a “sell” rating in a research report on Saturday, June 10th. Two research 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. The stock currently has an average rating of “Hold” and a consensus 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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