TC PipeLines, LP (NYSE:TCP) Cut to “Strong Sell” at BidaskClub
TC PipeLines, LP (NYSE:TCP) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Thursday.
Several other brokerages also recently issued reports on TCP. UBS AG reissued a “buy” rating and issued a $68.00 price objective (up previously from $67.00) on shares of TC PipeLines, in a research note on Friday, May 5th. Zacks Investment Research raised shares of TC PipeLines, from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Wolfe Research initiated coverage on shares of TC PipeLines, in a research note on Friday, May 12th. They issued a “market perform” rating and a $60.00 price objective for the company. Finally, Barclays PLC reissued a “sell” rating and issued a $57.00 price objective on shares of TC PipeLines, in a research note on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $63.33.
TC PipeLines, (NYSE:TCP) traded up 0.852% during trading on Thursday, hitting $53.845. The stock had a trading volume of 76,919 shares. TC PipeLines, has a 52-week low of $47.12 and a 52-week high of $65.03. The company has a 50-day moving average of $56.05 and a 200 day moving average of $58.36. The firm has a market cap of $3.74 billion, a P/E ratio of 17.159 and a beta of 0.97.
TC PipeLines, (NYSE:TCP) last issued its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by $0.01. The firm had revenue of $101 million for the quarter, compared to analysts’ expectations of $117.39 million. TC PipeLines, had a net margin of 62.63% and a return on equity of 19.77%. On average, equities research analysts predict that TC PipeLines, will post $3.27 earnings per share for the current fiscal year.
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Large investors have recently made changes to their positions in the stock. Freestone Capital Holdings LLC raised its stake in shares of TC PipeLines, by 4.0% in the second quarter. Freestone Capital Holdings LLC now owns 90,260 shares of the pipeline company’s stock worth $4,964,000 after buying an additional 3,512 shares during the period. Ffcm LLC raised its stake in 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 last quarter. Evergreen Capital Management LLC raised its stake in TC PipeLines, by 26.8% in the second quarter. Evergreen Capital Management LLC now owns 277,580 shares of the pipeline company’s stock valued at $15,267,000 after buying an additional 58,720 shares during the last quarter. Neuberger Berman Group LLC raised its stake in TC PipeLines, by 144.0% in the second quarter. Neuberger Berman Group LLC now owns 106,757 shares of the pipeline company’s stock valued at $5,872,000 after buying an additional 63,000 shares during the last quarter. Finally, Penserra Capital Management LLC raised its stake in 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 last quarter. 60.59% of the stock is currently owned by hedge funds and other 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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