TC PipeLines, LP (TCP) Given Average Recommendation of “Hold” by Brokerages
Shares of TC PipeLines, LP (NYSE:TCP) have earned a consensus rating of “Hold” from the seven analysts that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $61.33.
A number of equities research analysts have recently weighed in on TCP shares. Barclays PLC reissued a “sell” rating and issued a $57.00 target price on shares of TC PipeLines, in a research note on Friday, July 21st. Zacks Investment Research raised TC PipeLines, from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Tuesday, October 17th. Royal Bank Of Canada reissued a “buy” rating and issued a $72.00 target price on shares of TC PipeLines, in a research note on Monday, August 21st. BidaskClub raised TC PipeLines, from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Finally, UBS AG lowered their target price 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.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TCP. Ameriprise Financial Inc. raised its position in TC PipeLines, by 27.2% during the 1st quarter. Ameriprise Financial Inc. now owns 7,076 shares of the pipeline company’s stock valued at $422,000 after purchasing an additional 1,511 shares during the last quarter. Alliancebernstein L.P. raised its position in TC PipeLines, by 40.6% during the 1st quarter. Alliancebernstein L.P. now owns 11,321 shares of the pipeline company’s stock valued at $675,000 after purchasing an additional 3,269 shares during the last quarter. Renaissance Technologies LLC raised its position in TC PipeLines, by 8.0% during the 1st quarter. Renaissance Technologies LLC now owns 98,800 shares of the pipeline company’s stock valued at $5,894,000 after purchasing an additional 7,300 shares during the last quarter. KCG Holdings Inc. bought a new position in TC PipeLines, during the 1st quarter valued at approximately $285,000. Finally, Bank of America Corp DE raised its position in TC PipeLines, by 9.7% during the 1st quarter. Bank of America Corp DE now owns 233,854 shares of the pipeline company’s stock valued at $13,952,000 after purchasing an additional 20,623 shares during the last quarter. 60.18% of the stock is owned by institutional investors and hedge funds.
TC PipeLines, (TCP) traded down $0.08 during midday trading on Friday, hitting $53.10. The stock had a trading volume of 175,300 shares, compared to its average volume of 163,551. TC PipeLines, has a 12 month low of $48.70 and a 12 month high of $65.03. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.72 and a current ratio of 1.12. The company has a market cap of $3,684.50, a price-to-earnings ratio of 17.18, a PEG ratio of 2.75 and a beta of 0.99.
TC PipeLines, (NYSE:TCP) last released its earnings results on Monday, November 6th. The pipeline company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.06). TC PipeLines, had a net margin of 64.04% and a return on equity of 21.46%. The company had revenue of $100.00 million during the quarter, compared to the consensus estimate of $126.78 million. sell-side analysts anticipate that TC PipeLines, will post 3.21 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Friday, November 3rd will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 7.53%. The ex-dividend date is Thursday, November 2nd. TC PipeLines,’s payout ratio is 129.45%.
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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