Texas Yale Capital Corp. Sells 1,388 Shares of TC PipeLines, LP (TCP)
Texas Yale Capital Corp. lowered its position in TC PipeLines, LP (NYSE:TCP) by 1.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 143,658 shares of the pipeline company’s stock after selling 1,388 shares during the period. TC PipeLines, makes up approximately 0.6% of Texas Yale Capital Corp.’s investment portfolio, making the stock its 22nd largest holding. Texas Yale Capital Corp. owned 0.21% of TC PipeLines, worth $7,516,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Kayne Anderson Capital Advisors LP boosted its position in TC PipeLines, by 4.3% in the third quarter. Kayne Anderson Capital Advisors LP now owns 1,933,127 shares of the pipeline company’s stock valued at $101,127,000 after buying an additional 80,050 shares during the last quarter. Center Coast Capital Advisors LP boosted its position in TC PipeLines, by 6.6% in the third quarter. Center Coast Capital Advisors LP now owns 4,034,823 shares of the pipeline company’s stock valued at $211,102,000 after buying an additional 251,245 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in TC PipeLines, by 3.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 56,710 shares of the pipeline company’s stock valued at $2,967,000 after buying an additional 1,870 shares during the last quarter. Global X MANAGEMENT CO LLC boosted its position in TC PipeLines, by 26.5% in the third quarter. Global X MANAGEMENT CO LLC now owns 408,192 shares of the pipeline company’s stock valued at $21,357,000 after buying an additional 85,498 shares during the last quarter. Finally, Alps Advisors Inc. boosted its position in TC PipeLines, by 12.0% in the third quarter. Alps Advisors Inc. now owns 4,238,723 shares of the pipeline company’s stock valued at $221,770,000 after buying an additional 453,552 shares during the last quarter. Hedge funds and other institutional investors own 60.44% of the company’s stock.
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Shares of TC PipeLines, LP (NYSE:TCP) traded down $1.22 during trading hours on Wednesday, reaching $50.75. The company’s stock had a trading volume of 378,400 shares, compared to its average volume of 152,665. TC PipeLines, LP has a one year low of $49.83 and a one year high of $65.03. The firm has a market capitalization of $3,631.72, a P/E ratio of 16.82, a PEG ratio of 2.74 and a beta of 0.99. 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, (NYSE:TCP) last announced its earnings results on Monday, November 6th. The pipeline company reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ 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%. equities research analysts anticipate that TC PipeLines, LP will post 3.16 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Friday, November 3rd were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 7.88%. The ex-dividend date of this dividend was Thursday, November 2nd. TC PipeLines,’s payout ratio is 129.45%.
A number of brokerages recently commented on TCP. Barclays PLC reiterated an “underweight” rating and issued a $58.00 target price (up previously from $57.00) on shares of TC PipeLines, in a research report on Thursday, August 3rd. Royal Bank Of Canada reissued a “buy” rating and issued a $72.00 price target on shares of TC PipeLines, in a report on Monday, August 21st. BidaskClub raised TC PipeLines, from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. UBS AG decreased their price target on TC PipeLines, from $63.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday, November 7th. Finally, Zacks Investment Research raised TC PipeLines, from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. TC PipeLines, currently has an average rating of “Hold” and a consensus target price of $60.86.
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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