Citadel Advisors LLC Raises Holdings in TC PipeLines, LP (TCP)
Citadel Advisors LLC lifted its stake in shares of TC PipeLines, LP (NYSE:TCP) by 20.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,108 shares of the pipeline company’s stock after acquiring an additional 2,691 shares during the quarter. Citadel Advisors LLC’s holdings in TC PipeLines were worth $843,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in TCP. Kayne Anderson Capital Advisors LP boosted its stake in shares of TC PipeLines by 33.8% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 1,853,077 shares of the pipeline company’s stock worth $101,908,000 after acquiring an additional 468,000 shares in the last quarter. Alps Advisors Inc. boosted its stake in shares of TC PipeLines by 12.0% during the 3rd quarter. Alps Advisors Inc. now owns 4,238,723 shares of the pipeline company’s stock worth $221,770,000 after acquiring an additional 453,552 shares in the last quarter. Center Coast Capital Advisors LP boosted its stake in shares of TC PipeLines by 6.6% during the 3rd quarter. Center Coast Capital Advisors LP now owns 4,034,823 shares of the pipeline company’s stock worth $211,102,000 after acquiring an additional 251,245 shares in the last quarter. ING Groep NV boosted its stake in shares of TC PipeLines by 262.7% during the 3rd quarter. ING Groep NV now owns 219,514 shares of the pipeline company’s stock worth $11,485,000 after acquiring an additional 159,000 shares in the last quarter. Finally, Nordea Investment Management AB bought a new stake in shares of TC PipeLines during the 2nd quarter worth about $8,091,000. Institutional investors own 60.97% of the company’s stock.
Several research firms have recently issued reports on TCP. Citigroup upgraded TC PipeLines from a “neutral” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Friday. Wells Fargo & Company decreased their price target on TC PipeLines from $62.00 to $58.00 and set a “market perform” rating for the company in a research note on Wednesday, November 15th. Royal Bank Of Canada reiterated an “outperform” rating and set a $68.00 price target (down previously from $72.00) on shares of TC PipeLines in a research note on Thursday, November 9th. UBS decreased their price target on TC PipeLines from $63.00 to $61.00 and set a “buy” rating for the company in a research note on Tuesday, November 7th. Finally, Zacks Investment Research upgraded TC PipeLines from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $60.50.
Shares of TC PipeLines, LP (NYSE TCP) traded down $0.06 during trading hours on Friday, reaching $52.02. The company had a trading volume of 268,362 shares, compared to its average volume of 203,861. TC PipeLines, LP has a 1 year low of $48.55 and a 1 year high of $65.03. The company has a market cap of $3,635.21, a P/E ratio of 16.83, a price-to-earnings-growth ratio of 2.76 and a beta of 0.96. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.06 and a current ratio of 1.12.
TC PipeLines (NYSE:TCP) last announced its earnings results on Monday, November 6th. The pipeline company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.06). TC PipeLines had a net margin of 64.04% and a return on equity of 21.46%. The business had revenue of $100.00 million for the quarter, compared to the consensus estimate of $126.78 million. research analysts predict that TC PipeLines, LP will post 3.14 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Friday, November 3rd were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, November 2nd. This represents a $4.00 annualized dividend and a yield of 7.69%. TC PipeLines’s payout ratio is 129.45%.
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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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