TC Pipelines (TCP) Research Coverage Started at Tudor Pickering
Tudor Pickering initiated coverage on shares of TC Pipelines (NYSE:TCP) in a report released on Friday morning. The brokerage issued a hold rating and a $58.00 price target on the pipeline company’s stock.
TCP has been the topic of several other reports. UBS Group dropped their target price 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. Royal Bank of Canada reissued an outperform rating and issued a $68.00 target price (down from $72.00) on shares of TC Pipelines in a research report on Thursday, November 9th. Zacks Investment Research raised shares of TC Pipelines from a hold rating to a buy rating and set a $60.00 target price on the stock in a research report on Tuesday, October 17th. Bank of America began coverage on shares of TC Pipelines in a research report on Tuesday. They issued a neutral rating on the stock. Finally, Citigroup raised shares of TC Pipelines from a neutral rating to a buy rating and set a $58.00 target price on the stock in a research report on Friday, December 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $60.22.
Shares of TC Pipelines (NYSE TCP) traded up $0.64 on Friday, hitting $55.17. 259,243 shares of the stock traded hands, compared to its average volume of 255,340. The firm has a market cap of $3,860.00, a PE ratio of 18.27, a P/E/G ratio of 2.85 and a beta of 0.96. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.12 and a quick ratio of 1.06. TC Pipelines has a 12 month low of $48.55 and a 12 month high of $65.03.
TC Pipelines (NYSE:TCP) last announced its quarterly earnings data on Monday, November 6th. The pipeline company reported $0.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.06). The business had revenue of $100.00 million during 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%. equities research analysts forecast that TC Pipelines will post 3.14 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in TCP. Wells Fargo & Company MN increased its position in shares of TC Pipelines by 20.4% in the second quarter. Wells Fargo & Company MN now owns 43,320 shares of the pipeline company’s stock worth $2,383,000 after acquiring an additional 7,334 shares in the last quarter. Alliancebernstein L.P. grew its position in TC Pipelines by 5.9% during the second quarter. Alliancebernstein L.P. now owns 11,993 shares of the pipeline company’s stock valued at $660,000 after purchasing an additional 672 shares in the last quarter. Ameriprise Financial Inc. grew its position in TC Pipelines by 9.7% during the second quarter. Ameriprise Financial Inc. now owns 7,761 shares of the pipeline company’s stock valued at $427,000 after purchasing an additional 685 shares in the last quarter. New York State Common Retirement Fund purchased a new position in TC Pipelines during the second quarter valued at approximately $369,000. Finally, GSA Capital Partners LLP purchased a new position in TC Pipelines during the second quarter valued at approximately $1,418,000. 60.96% of the stock is currently owned by institutional investors and hedge funds.
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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