Barclays PLC reissued their underweight rating on shares of TC PipeLines, LP (NYSE:TCP) in a research report released on Wednesday morning. Barclays PLC currently has a $58.00 price target on the pipeline company’s stock, up from their previous price target of $57.00.
Other equities research analysts have also recently issued research reports about the company. UBS AG reaffirmed a buy rating and set a $68.00 target price (up previously from $67.00) on shares of TC PipeLines, in a research report on Friday, May 5th. Zacks Investment Research cut TC PipeLines, from a hold rating to a sell rating in a research report on Tuesday, May 2nd. Wolfe Research began coverage on TC PipeLines, in a research report on Friday, May 12th. They set a market perform rating and a $60.00 target price for the company. Finally, BidaskClub cut TC PipeLines, from a sell rating to a strong sell rating in a research report on Thursday, June 22nd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $63.33.
Shares of TC PipeLines, (NYSE:TCP) opened at 52.89 on Wednesday. TC PipeLines, has a 1-year low of $47.12 and a 1-year high of $65.03. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 16.85 and a beta of 0.97. The stock’s 50 day moving average is $56.14 and its 200-day moving average is $58.29.
TC PipeLines, (NYSE:TCP) last announced its earnings results on Wednesday, August 2nd. The pipeline company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $101 million for the quarter, compared to the consensus estimate of $117.39 million. TC PipeLines, had a return on equity of 19.77% and a net margin of 62.63%. On average, analysts anticipate that TC PipeLines, will post $3.29 EPS for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Tuesday, August 1st were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, July 28th. This is a positive change from TC PipeLines,’s previous quarterly dividend of $0.94. This represents a $4.00 dividend on an annualized basis and a dividend yield of 7.56%. TC PipeLines,’s payout ratio is 127.80%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Veritable L.P. raised its position in shares of TC PipeLines, by 15.6% in the second quarter. Veritable L.P. now owns 4,434 shares of the pipeline company’s stock worth $244,000 after buying an additional 599 shares during the period. Global Endowment Management LP raised its position in shares of TC PipeLines, by 93.7% in the second quarter. Global Endowment Management LP now owns 19,850 shares of the pipeline company’s stock worth $1,092,000 after buying an additional 9,600 shares during the period. Virtu KCG Holdings LLC raised its position in shares of TC PipeLines, by 89.4% in the second quarter. Virtu KCG Holdings LLC now owns 9,048 shares of the pipeline company’s stock worth $498,000 after buying an additional 4,270 shares during the period. Citadel Advisors LLC raised its position in shares of TC PipeLines, by 167.6% in the second quarter. Citadel Advisors LLC now owns 13,417 shares of the pipeline company’s stock worth $738,000 after buying an additional 8,403 shares during the period. Finally, Nordea Investment Management AB acquired a new position in shares of TC PipeLines, during the second quarter worth approximately $8,091,000. Institutional investors own 60.59% of the company’s stock.
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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