Barnett & Company Inc. cut its position in TC PipeLines, LP (NYSE:TCP) by 5.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,272 shares of the pipeline company’s stock after selling 1,260 shares during the quarter. Barnett & Company Inc.’s holdings in TC PipeLines were worth $1,061,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. CNH Partners LLC lifted its position in shares of TC PipeLines by 1.0% during the 2nd quarter. CNH Partners LLC now owns 9,975 shares of the pipeline company’s stock valued at $549,000 after acquiring an additional 100 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of TC PipeLines by 8.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,013 shares of the pipeline company’s stock worth $111,000 after buying an additional 149 shares in the last quarter. IHT Wealth Management LLC acquired a new position in shares of TC PipeLines during the 2nd quarter worth $1,722,000. Janney Montgomery Scott LLC raised its holdings in shares of TC PipeLines by 7.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 6,151 shares of the pipeline company’s stock worth $338,000 after buying an additional 425 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in shares of TC PipeLines by 11.8% during the 2nd quarter. Proficio Capital Partners LLC now owns 4,166 shares of the pipeline company’s stock worth $238,000 after buying an additional 441 shares in the last quarter. Institutional investors and hedge funds own 60.97% of the company’s stock.

Shares of TC PipeLines, LP (TCP) traded down $0.08 on Thursday, reaching $53.01. The company’s stock had a trading volume of 218,900 shares, compared to its average volume of 156,504. TC PipeLines, LP has a fifty-two week low of $48.55 and a fifty-two week high of $65.03. The company has a current ratio of 1.12, a quick ratio of 1.06 and a debt-to-equity ratio of 2.38. The firm has a market cap of $3,709.98, a PE ratio of 17.18, a PEG ratio of 2.82 and a beta of 0.96.

TC PipeLines (NYSE:TCP) last issued its earnings results on Monday, November 6th. The pipeline company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.06). TC PipeLines had a return on equity of 21.46% and a net margin of 64.04%. The firm had revenue of $100.00 million during the quarter, compared to analyst estimates of $126.78 million. equities analysts forecast that TC PipeLines, LP will post 3.14 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Friday, November 3rd were issued a $1.00 dividend. The ex-dividend date was Thursday, November 2nd. This represents a $4.00 dividend on an annualized basis and a yield of 7.55%. TC PipeLines’s payout ratio is presently 129.45%.

A number of equities analysts have recently commented on TCP shares. Zacks Investment Research raised TC PipeLines from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Tuesday, October 17th. BidaskClub raised TC PipeLines from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Royal Bank of Canada reissued an “outperform” rating and set a $68.00 price target (down previously from $72.00) on shares of TC PipeLines in a report on Thursday, November 9th. Citigroup raised TC PipeLines from a “neutral” rating to a “buy” rating and set a $58.00 price target for the company in a report on Friday, December 8th. Finally, Wells Fargo & Company lowered their price target on TC PipeLines from $62.00 to $58.00 and set a “market perform” rating for the company in a report on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. TC PipeLines presently has an average rating of “Hold” and an average target price of $60.50.

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TC PipeLines 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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Institutional Ownership by Quarter for TC PipeLines (NYSE:TCP)

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