TC PipeLines, LP (TCP) Given New $58.00 Price Target at Wells Fargo & Company
TC PipeLines, LP (NYSE:TCP) had its target price lowered by Wells Fargo & Company from $62.00 to $58.00 in a research note issued to investors on Wednesday morning. The firm currently has a market perform rating on the pipeline company’s stock.
TCP has been the topic of several other research reports. Zacks Investment Research upgraded shares of TC PipeLines, from a hold rating to a buy rating and set a $60.00 price target on the stock in a research report on Tuesday, October 17th. BidaskClub upgraded shares of TC PipeLines, from a strong sell rating to a sell rating in a research report on Friday, August 25th. Royal Bank Of Canada reiterated an outperform rating and set a $68.00 price target (down previously from $72.00) on shares of TC PipeLines, in a research report on Thursday, November 9th. Barclays PLC reiterated a sell rating and set a $57.00 price target on shares of TC PipeLines, in a research report on Friday, July 21st. Finally, UBS AG reduced their price target on shares of TC PipeLines, from $63.00 to $61.00 and set a buy rating on the stock in a research report on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. TC PipeLines, presently has an average rating of Hold and an average target price of $60.86.
Shares of TC PipeLines, (TCP) traded up $0.53 during trading hours on Wednesday, hitting $52.46. 302,002 shares of the company’s stock were exchanged, compared to its average volume of 151,182. TC PipeLines, has a 1 year low of $49.83 and a 1 year high of $65.03. The firm has a market cap of $3,650.00, a price-to-earnings ratio of 16.78, a PEG ratio of 2.71 and a beta of 0.99. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.06 and a current ratio of 1.12.
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 the Zacks’ consensus estimate of $0.67 by ($0.06). The business 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%. analysts forecast that TC PipeLines, will post 3.19 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Friday, November 3rd were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 7.62%. The ex-dividend date was Thursday, November 2nd. TC PipeLines,’s payout ratio is 132.45%.
Hedge funds have recently added to or reduced their stakes in the company. IHT Wealth Management LLC bought a new position in shares of TC PipeLines, during the second quarter valued at $1,722,000. The Manufacturers Life Insurance Company raised its stake in shares of TC PipeLines, by 8.0% during the second quarter. The Manufacturers Life Insurance Company now owns 2,013 shares of the pipeline company’s stock valued at $111,000 after acquiring an additional 149 shares during the last quarter. Ffcm LLC raised its stake in shares of TC PipeLines, by 225.7% during the second quarter. Ffcm LLC now owns 2,052 shares of the pipeline company’s stock valued at $120,000 after acquiring an additional 1,422 shares during the last quarter. Penserra Capital Management LLC raised its stake in shares of TC PipeLines, by 214.7% during the second quarter. Penserra Capital Management LLC now owns 2,813 shares of the pipeline company’s stock valued at $154,000 after acquiring an additional 1,919 shares during the last quarter. Finally, Cetera Investment Advisers bought a new position in shares of TC PipeLines, during the second quarter valued at $204,000. 61.16% of the stock is owned by hedge funds and other institutional investors.
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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