TC Pipelines, LP (NYSE:TCP) was down 3.8% during trading on Thursday . The stock traded as low as $53.80 and last traded at $54.08, with a volume of 87,630 shares changing hands. The stock had previously closed at $56.22.

Several equities research analysts have recently commented on TCP shares. Barclays PLC assumed coverage on TC Pipelines, in a report on Wednesday, April 13th. They issued an “equal weight” rating and a $53.00 price objective for the company. Morgan Stanley assumed coverage on TC Pipelines, in a research note on Wednesday, April 13th. They issued an “underweight” rating on the stock. Ladenburg Thalmann cut TC Pipelines, from a “buy” rating to a “neutral” rating and increased their price target for the company from $52.00 to $54.00 in a research note on Friday, May 6th. Zacks Investment Research upgraded TC Pipelines, from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Wednesday, May 11th. Finally, JPMorgan Chase & Co. increased their price target on TC Pipelines, from $53.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, May 27th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $54.75.

The firm has a 50-day moving average of $55.58 and a 200-day moving average of $50.60. The stock has a market cap of $3.56 billion and a PE ratio of 137.60.

TC Pipelines, (NYSE:TCP) last announced its earnings results on Wednesday, May 4th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.19. On average, equities analysts forecast that TC Pipelines, LP will post $3.16 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Monday, August 1st will be given a dividend of $0.94 per share. The ex-dividend date is Thursday, July 28th. This is a boost from TC Pipelines,’s previous quarterly dividend of $0.89. This represents a $3.76 annualized dividend and a dividend yield of 7.04%.

Several hedge funds and institutional investors recently made changes to their positions in the stock. Kayne Anderson Capital Advisors LP boosted its position in shares of TC Pipelines, by 35.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 620,554 shares of the company’s stock valued at $30,839,000 after buying an additional 163,400 shares during the last quarter. Bank of Montreal Can boosted its position in shares of 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 last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of 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 last quarter.

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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