Blair William & Co. IL Acquires 2,000 Shares of TC PipeLines, LP (TCP)
Blair William & Co. IL raised its stake in TC PipeLines, LP (NYSE:TCP) by 10.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,844 shares of the pipeline company’s stock after buying an additional 2,000 shares during the period. Blair William & Co. IL’s holdings in TC PipeLines, were worth $1,201,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in TCP. Clinton Group Inc. increased its stake in shares of TC PipeLines, by 99.4% in the first quarter. Clinton Group Inc. now owns 43,372 shares of the pipeline company’s stock valued at $2,588,000 after buying an additional 21,626 shares during the period. First Trust Advisors LP increased its stake in shares of TC PipeLines, by 42.7% in the first quarter. First Trust Advisors LP now owns 206,276 shares of the pipeline company’s stock valued at $12,306,000 after buying an additional 61,751 shares during the period. Bollard Group LLC increased its stake in shares of TC PipeLines, by 1.5% in the second quarter. Bollard Group LLC now owns 213,885 shares of the pipeline company’s stock valued at $11,764,000 after buying an additional 3,210 shares during the period. JPMorgan Chase & Co. increased its stake in shares of TC PipeLines, by 3.3% in the first quarter. JPMorgan Chase & Co. now owns 839,551 shares of the pipeline company’s stock valued at $50,088,000 after buying an additional 27,149 shares during the period. Finally, RMB Capital Management LLC acquired a new stake in shares of TC PipeLines, during the first quarter valued at $293,000. Institutional investors and hedge funds own 60.61% of the company’s stock.
TC PipeLines, LP (NYSE TCP) opened at 50.85 on Tuesday. The stock has a market capitalization of $3.53 billion, a PE ratio of 16.20 and a beta of 0.97. TC PipeLines, LP has a one year low of $47.12 and a one year high of $65.03. The firm has a 50-day moving average of $54.91 and a 200-day moving average of $57.62.
TC PipeLines, (NYSE:TCP) last released its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.74 by $0.01. TC PipeLines, had a return on equity of 19.77% and a net margin of 62.63%. The firm had revenue of $101 million for the quarter, compared to the consensus estimate of $117.39 million. On average, equities research analysts forecast that TC PipeLines, LP will post $3.25 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Tuesday, August 1st were paid a dividend of $1.00 per share. This is a positive change from TC PipeLines,’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Friday, July 28th. This represents a $4.00 annualized dividend and a yield of 7.87%. TC PipeLines,’s dividend payout ratio (DPR) is presently 127.80%.
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Several equities research analysts have recently weighed in on TCP shares. BidaskClub upgraded shares of TC PipeLines, from a “strong sell” rating to a “sell” rating in a research note on Friday. Zacks Investment Research upgraded shares of TC PipeLines, from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Royal Bank Of Canada restated a “buy” rating and issued a $72.00 price objective on shares of TC PipeLines, in a research report on Monday, August 21st. Barclays PLC restated a “sell” rating and issued a $57.00 price objective on shares of TC PipeLines, in a research report on Friday, July 21st. Finally, Wolfe Research started 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 objective for the company. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $64.17.
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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