Richard C. Young & CO. LTD. Has $6.13 Million Holdings in TC PipeLines, LP (TCP)
Richard C. Young & CO. LTD. grew its holdings in shares of TC PipeLines, LP (NYSE:TCP) by 2.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 117,220 shares of the pipeline company’s stock after acquiring an additional 2,289 shares during the quarter. Richard C. Young & CO. LTD. owned about 0.17% of TC PipeLines worth $6,133,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its holdings in shares of TC PipeLines by 8.0% in the second quarter. The Manufacturers Life Insurance Company now owns 2,013 shares of the pipeline company’s stock valued at $111,000 after buying an additional 149 shares during the period. Ffcm LLC lifted 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. Penserra Capital Management LLC lifted its holdings in shares of TC PipeLines by 214.7% in the second quarter. Penserra Capital Management LLC now owns 2,813 shares of the pipeline company’s stock valued at $154,000 after buying an additional 1,919 shares during the period. Cetera Investment Advisers acquired a new stake in shares of TC PipeLines in the second quarter valued at $204,000. Finally, Wedbush Securities Inc. acquired a new stake in shares of TC PipeLines in the third quarter valued at $204,000. Institutional investors own 60.44% of the company’s stock.
Several analysts have recently weighed in on the company. Barclays PLC restated an “underweight” rating and issued a $58.00 price objective (up previously from $57.00) on shares of TC PipeLines in a report on Wednesday, August 9th. BidaskClub lowered TC PipeLines from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $72.00 target price on shares of TC PipeLines in a research report on Wednesday, September 27th. Wells Fargo & Company cut their target price on TC PipeLines from $62.00 to $58.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 15th. Finally, Zacks Investment Research raised TC PipeLines from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. TC PipeLines presently has a consensus rating of “Hold” and an average price target of $60.86.
Shares of TC PipeLines, LP (NYSE TCP) traded up $0.06 during trading on Monday, hitting $50.51. The stock had a trading volume of 128,100 shares, compared to its average volume of 152,625. The firm has a market capitalization of $3,530.00, a price-to-earnings ratio of 16.35, a PEG ratio of 2.66 and a beta of 0.99. The company has a quick ratio of 1.06, a current ratio of 1.12 and a debt-to-equity ratio of 2.38. TC PipeLines, LP has a 12 month low of $49.83 and a 12 month high of $65.03.
TC PipeLines (NYSE:TCP) last announced 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). The company had revenue of $100.00 million for the quarter, compared to analyst estimates of $126.78 million. TC PipeLines had a return on equity of 21.46% and a net margin of 64.04%. equities analysts anticipate that TC PipeLines, LP will post 3.16 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Friday, November 3rd were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 7.92%. The ex-dividend date of this dividend was Thursday, November 2nd. TC PipeLines’s dividend payout ratio (DPR) is presently 132.45%.
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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