TC PipeLines, LP (NYSE:TCP) has received an average recommendation of “Hold” from the nine brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $60.50.
A number of equities research analysts have commented on the stock. Citigroup raised shares of TC PipeLines from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Friday. Royal Bank Of Canada reissued a “buy” rating and set a $72.00 price objective on shares of TC PipeLines in a report on Wednesday, September 27th. BidaskClub raised shares of TC PipeLines from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Wells Fargo & Company decreased their price objective on shares of TC PipeLines from $62.00 to $58.00 and set a “market perform” rating on the stock in a report on Wednesday, November 15th. Finally, Zacks Investment Research raised shares of TC PipeLines from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Tuesday, October 17th.
Large investors have recently modified their holdings of the business. IHT Wealth Management LLC acquired a new position in TC PipeLines during the 2nd quarter valued at about $1,722,000. The Manufacturers Life Insurance Company lifted its position in TC PipeLines by 8.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,013 shares of the pipeline company’s stock valued at $111,000 after purchasing an additional 149 shares during the period. Ffcm LLC lifted its position in TC PipeLines by 225.7% during the 2nd quarter. Ffcm LLC now owns 2,052 shares of the pipeline company’s stock valued at $120,000 after purchasing an additional 1,422 shares during the period. Penserra Capital Management LLC lifted its position in TC PipeLines by 214.7% during the 2nd quarter. Penserra Capital Management LLC now owns 2,813 shares of the pipeline company’s stock valued at $154,000 after purchasing an additional 1,919 shares during the period. Finally, Cetera Investment Advisers acquired a new position in TC PipeLines during the 2nd quarter valued at about $204,000. 60.97% of the stock is currently owned by hedge funds and other institutional investors.
TC PipeLines (NYSE:TCP) traded down $0.06 on Thursday, hitting $52.02. 268,362 shares of the stock traded hands, compared to its average volume of 203,861. The company has a current ratio of 1.12, a quick ratio of 1.06 and a debt-to-equity ratio of 2.38. TC PipeLines has a fifty-two week low of $48.55 and a fifty-two week high of $65.03. The company has a market cap of $3,635.21, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 2.76 and a beta of 0.96.
TC PipeLines (NYSE:TCP) last posted 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). TC PipeLines had a return on equity of 21.46% and a net margin of 64.04%. The firm had revenue of $100.00 million during the quarter, compared to the consensus estimate of $126.78 million. sell-side analysts predict that TC PipeLines will post 3.14 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Friday, November 3rd were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 7.69%. The ex-dividend date of this dividend was Thursday, November 2nd. TC PipeLines’s dividend payout ratio is currently 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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