Shares of TC Pipelines, LP (NYSE:TCP) shot up 2.3% during mid-day trading on Tuesday . The company traded as high as $57.18 and last traded at $56.80, with a volume of 100,386 shares trading hands. The stock had previously closed at $55.53.

A number of research firms recently issued reports on TCP. Ladenburg Thalmann lowered TC Pipelines, from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $52.00 to $54.00 in a research note on Friday, May 6th. Royal Bank Of Canada upped their target price on TC Pipelines, from $53.00 to $61.00 and gave the stock a “sector perform” rating in a research note on Monday, June 13th. Barclays PLC assumed coverage on TC Pipelines, in a research note on Wednesday, April 13th. They issued an “equal weight” rating and a $53.00 target price on the stock. Morgan Stanley assumed coverage on TC Pipelines, in a research note on Wednesday, April 13th. They issued an “underweight” rating on the stock. Finally, JPMorgan Chase & Co. upped their target price on TC Pipelines, from $53.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, May 27th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $54.88.

The stock has a market cap of $3.69 billion and a PE ratio of 142.89. The company’s 50-day moving average is $55.90 and its 200 day moving average is $49.90.

TC Pipelines, (NYSE:TCP) last released its quarterly earnings results on Wednesday, May 4th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.19. Equities research analysts anticipate that TC Pipelines, LP will post $3.13 earnings per share for the current fiscal year.

A number of institutional investors recently added to or reduced their stakes in TCP. Wells Fargo & Company MN increased its position in TC Pipelines, by 16.0% in the fourth quarter. Wells Fargo & Company MN now owns 32,714 shares of the company’s stock valued at $1,626,000 after buying an additional 4,516 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in TC Pipelines, by 406.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 93,949 shares of the company’s stock valued at $4,670,000 after buying an additional 75,399 shares during the period. Richard C. Young & CO. LTD. increased its position in TC Pipelines, by 3.7% in the fourth quarter. Richard C. Young & CO. LTD. now owns 99,287 shares of the company’s stock valued at $4,936,000 after buying an additional 3,579 shares during the period. Bank of Montreal Can increased its position in TC Pipelines, by 192.1% in the fourth quarter. Bank of Montreal Can now owns 138,000 shares of the company’s stock valued at $6,860,000 after buying an additional 90,751 shares during the period. Finally, Texas Yale Capital Corp. increased its position in TC Pipelines, by 0.4% in the fourth quarter. Texas Yale Capital Corp. now owns 142,475 shares of the company’s stock valued at $7,082,000 after buying an additional 627 shares during the period.

TC PipeLines, LP is a limited partnership company that 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. The company is managed by its General Partner, which is an indirect wholly owned subsidiary of TransCanada.

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