TC Pipelines, LP (NYSE:TCP) has been assigned a consensus recommendation of “Hold” from the nine analysts that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $60.50.
Several equities research analysts have recently commented on the stock. UBS Group lowered their price target on shares of TC Pipelines from $63.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, November 7th. Royal Bank of Canada restated an “outperform” rating and set a $68.00 price objective (down previously from $72.00) on shares of TC Pipelines in a report on Thursday, November 9th. Zacks Investment Research upgraded shares of TC Pipelines from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Tuesday, October 17th. Citigroup upgraded shares of TC Pipelines from a “neutral” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Friday, December 8th. Finally, Wells Fargo & Co decreased their price objective on shares of TC Pipelines from $62.00 to $58.00 and set a “market perform” rating for the company in a report on Wednesday, November 15th.
Shares of TC Pipelines (TCP) traded down $1.07 during trading hours on Monday, hitting $53.58. 208,217 shares of the stock traded hands, compared to its average volume of 261,088. TC Pipelines has a 12 month low of $48.55 and a 12 month high of $65.03. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.06 and a current ratio of 1.12. The firm has a market cap of $3,819.00, a PE ratio of 17.34, a price-to-earnings-growth ratio of 2.86 and a beta of 0.96.
TC Pipelines (NYSE:TCP) last issued its quarterly earnings results on Monday, November 6th. The pipeline company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.06). TC Pipelines had a return on equity of 21.46% and a net margin of 64.04%. The business had revenue of $100.00 million for the quarter, compared to analyst estimates of $126.78 million. sell-side analysts anticipate that TC Pipelines will post 3.14 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. boosted its holdings in shares of TC Pipelines by 207.3% in the second quarter. Sei Investments Co. now owns 12,291 shares of the pipeline company’s stock valued at $676,000 after buying an additional 8,291 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of TC Pipelines by 55.7% in the second quarter. BNP Paribas Arbitrage SA now owns 9,953 shares of the pipeline company’s stock valued at $547,000 after buying an additional 3,560 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of TC Pipelines in the second quarter valued at approximately $715,000. Neuberger Berman Group LLC boosted its holdings in shares of TC Pipelines by 144.0% in the second quarter. Neuberger Berman Group LLC now owns 106,757 shares of the pipeline company’s stock valued at $5,872,000 after buying an additional 63,000 shares during the period. Finally, Ffcm LLC boosted 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 valued at $120,000 after buying an additional 1,422 shares during the period. Hedge funds and other institutional investors own 60.96% of the company’s stock.
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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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