TC Pipelines (NYSE:TCP) had its target price cut by Wells Fargo from $59.00 to $42.00 in a research report released on Thursday morning. They currently have a market perform rating on the pipeline company’s stock.

Several other research firms have also issued reports on TCP. Tudor Pickering began coverage on TC Pipelines in a research report on Friday, January 12th. They set a hold rating and a $58.00 target price for the company. Barclays restated a sell rating and set a $55.00 target price on shares of TC Pipelines in a research report on Friday, January 19th. Bank of America began coverage on TC Pipelines in a research report on Tuesday, January 9th. They set a neutral rating for the company. Zacks Investment Research lowered TC Pipelines from a hold rating to a sell rating in a research report on Tuesday, February 6th. Finally, Citigroup upgraded TC Pipelines from a neutral rating to a buy rating and set a $58.00 target price for the company in a research report on Friday, December 8th. Five analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. TC Pipelines currently has an average rating of Hold and an average price target of $52.00.

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Shares of TC Pipelines stock traded down $0.30 during trading hours on Thursday, reaching $34.63. The company’s stock had a trading volume of 100,459 shares, compared to its average volume of 263,745. The company has a market cap of $2,555.61, a PE ratio of 11.05, a P/E/G ratio of 2.01 and a beta of 0.94. TC Pipelines has a 12-month low of $34.41 and a 12-month high of $61.74. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.90 and a quick ratio of 0.82.

TC Pipelines (NYSE:TCP) last posted its earnings results on Friday, February 23rd. The pipeline company reported $0.77 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.01). The company had revenue of $109.00 million for the quarter, compared to analyst estimates of $137.19 million. TC Pipelines had a return on equity of 22.80% and a net margin of 62.66%. sell-side analysts expect that TC Pipelines will post 3.12 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Brookfield Asset Management Inc. acquired a new position in TC Pipelines during the 4th quarter worth approximately $147,413,000. Finepoint Capital LP acquired a new position in TC Pipelines during the 4th quarter worth approximately $48,480,000. Kayne Anderson Capital Advisors LP boosted its position in TC Pipelines by 40.8% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 2,722,617 shares of the pipeline company’s stock worth $144,554,000 after acquiring an additional 789,490 shares during the last quarter. Alps Advisors Inc. boosted its position in TC Pipelines by 3.3% during the 4th quarter. Alps Advisors Inc. now owns 4,378,065 shares of the pipeline company’s stock worth $232,475,000 after acquiring an additional 139,342 shares during the last quarter. Finally, Global X Management Co. LLC boosted its position in TC Pipelines by 31.1% during the 4th quarter. Global X Management Co. LLC now owns 535,275 shares of the pipeline company’s stock worth $28,423,000 after acquiring an additional 127,083 shares during the last quarter. Institutional investors and hedge funds own 65.99% of the company’s stock.

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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.

Analyst Recommendations for TC Pipelines (NYSE:TCP)

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