Clinton Group Inc. Has $1.44 Million Holdings in TC PipeLines, LP (TCP)
Clinton Group Inc. lowered its stake in TC PipeLines, LP (NYSE:TCP) by 39.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,244 shares of the pipeline company’s stock after selling 17,128 shares during the period. Clinton Group Inc.’s holdings in TC PipeLines, were worth $1,443,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kayne Anderson Capital Advisors LP increased its holdings 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 valued at $101,908,000 after acquiring an additional 468,000 shares during the last quarter. Alps Advisors Inc. boosted its position in TC PipeLines, by 4.6% during the second quarter. Alps Advisors Inc. now owns 3,785,171 shares of the pipeline company’s stock worth $208,184,000 after purchasing an additional 166,952 shares during the period. Bank of Montreal Can boosted its position in TC PipeLines, by 40.8% during the second quarter. Bank of Montreal Can now owns 533,564 shares of the pipeline company’s stock worth $29,346,000 after purchasing an additional 154,568 shares during the period. Nordea Investment Management AB bought a new stake in TC PipeLines, during the second quarter worth approximately $8,091,000. Finally, Marshall Wace North America L.P. bought a new stake in TC PipeLines, during the second quarter worth approximately $5,815,000. Institutional investors own 60.61% of the company’s stock.
A number of research analysts have weighed in on the stock. Barclays PLC reissued an “underweight” rating and set a $58.00 target price (up previously from $57.00) on shares of TC PipeLines, in a research report on Thursday, August 3rd. Zacks Investment Research downgraded TC PipeLines, from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. BidaskClub lowered TC PipeLines, from a “hold” rating to a “sell” rating in a research note on Saturday, June 10th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $72.00 price objective on shares of TC PipeLines, in a research note on Wednesday, September 27th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $64.17.
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TC PipeLines, LP (NYSE TCP) traded down 0.22% during trading on Wednesday, reaching $53.26. 2,807 shares of the company traded hands. The company’s 50-day moving average is $51.70 and its 200 day moving average is $55.74. The company has a market cap of $3.70 billion, a PE ratio of 16.97 and a beta of 1.00. TC PipeLines, LP has a 12 month low of $47.12 and a 12 month high of $65.03.
TC PipeLines, (NYSE:TCP) last issued its quarterly earnings data 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 firm had revenue of $101.00 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, LP will post $3.21 earnings per share for the current year.
About TC PipeLines,
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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