TC Pipelines, LP (TCP) Shares Sold by Center Coast Capital Advisors LP
Center Coast Capital Advisors LP lessened its position in TC Pipelines, LP (NYSE:TCP) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,602,873 shares of the pipeline company’s stock after selling 431,950 shares during the period. TC Pipelines accounts for about 5.1% of Center Coast Capital Advisors LP’s portfolio, making the stock its 10th biggest holding. Center Coast Capital Advisors LP owned about 0.05% of TC Pipelines worth $191,313,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Stuart Chaussee & Associates Inc. acquired a new position in TC Pipelines in the 4th quarter worth about $152,000. Mathes Company Inc. acquired a new position in TC Pipelines in the 4th quarter worth about $272,000. Bank of Montreal Can increased its holdings in TC Pipelines by 7.2% in the 4th quarter. Bank of Montreal Can now owns 553,000 shares of the pipeline company’s stock worth $29,364,000 after purchasing an additional 37,191 shares in the last quarter. Institutional & Family Asset Management LLC acquired a new position in TC Pipelines in the 3rd quarter worth about $836,000. Finally, Neuberger Berman Group LLC increased its holdings in TC Pipelines by 32.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 141,757 shares of the pipeline company’s stock worth $7,417,000 after purchasing an additional 35,000 shares in the last quarter. 61.02% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have issued reports on TCP. Barclays reaffirmed a “sell” rating and issued a $55.00 target price on shares of TC Pipelines in a report on Friday, January 19th. Tudor Pickering began coverage on TC Pipelines in a report on Friday, January 12th. They issued a “hold” rating and a $58.00 target price for the company. Bank of America began coverage on TC Pipelines in a report on Tuesday, January 9th. They issued a “neutral” rating for the company. Zacks Investment Research upgraded 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. Finally, Wells Fargo & Co reduced their price target 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. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $59.75.
TC Pipelines (NYSE:TCP) last released its quarterly earnings results on Monday, November 6th. The pipeline company reported $0.61 EPS 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. equities research analysts expect that TC Pipelines, LP will post 3.14 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 13th. Shareholders of record on Friday, February 2nd will be given a $1.00 dividend. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 7.60%. TC Pipelines’s dividend payout ratio (DPR) is presently 129.45%.
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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