Royal Bank Of Canada Reaffirms “Buy” Rating for TC PipeLines, LP (TCP)
Royal Bank Of Canada reaffirmed their buy rating on shares of TC PipeLines, LP (NYSE:TCP) in a research report report published on Wednesday morning. They currently have a $72.00 price objective on the pipeline company’s stock.
Other equities analysts also recently issued reports about the stock. BidaskClub upgraded shares of TC PipeLines, from a strong sell rating to a sell rating in a report on Friday, August 25th. Barclays PLC restated a sell rating and set a $57.00 target price on shares of TC PipeLines, in a report on Friday, July 21st. Finally, Zacks Investment Research downgraded shares of TC PipeLines, from a hold rating to a sell rating in a report on Thursday, July 13th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $64.17.
Shares of TC PipeLines, (NYSE TCP) opened at 52.32 on Wednesday. The stock has a market cap of $3.63 billion, a PE ratio of 16.67 and a beta of 0.99. TC PipeLines, has a 1-year low of $47.12 and a 1-year high of $65.03. The stock’s 50 day moving average is $52.34 and its 200-day moving average is $56.38.
TC PipeLines, (NYSE:TCP) last posted its earnings results on Wednesday, August 2nd. The pipeline company reported $0.73 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.01). TC PipeLines, had a net margin of 62.63% and a return on equity of 19.77%. The business had revenue of $101.00 million for the quarter, compared to analysts’ expectations of $117.39 million. On average, analysts predict that TC PipeLines, will post $3.23 EPS for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in TCP. The Manufacturers Life Insurance Company boosted its stake 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 purchasing an additional 149 shares during the last quarter. Ffcm LLC boosted its stake in shares of TC PipeLines, by 225.7% during the 2nd quarter. Ffcm LLC now owns 2,052 shares of the pipeline company’s stock worth $120,000 after purchasing an additional 1,422 shares during the last quarter. Almanack Investment Partners LLC. acquired a new stake in shares of TC PipeLines, during the 1st quarter worth about $138,000. Penserra Capital Management LLC boosted its stake in shares of TC PipeLines, by 214.7% during the 2nd quarter. Penserra Capital Management LLC now owns 2,813 shares of the pipeline company’s stock worth $154,000 after purchasing an additional 1,919 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new stake in shares of TC PipeLines, during the 2nd quarter worth about $204,000. 60.61% of the stock is currently owned by institutional investors.
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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