TC Pipelines, LP (TCP) Shares Gap Up to $52.16
TC Pipelines, LP (NYSE:TCP) gapped up prior to trading on Monday . The stock had previously closed at $51.97, but opened at $52.16. TC Pipelines, shares last traded at $53.13, with a volume of 240,515 shares traded.
Several brokerages have issued reports on TCP. Zacks Investment Research upgraded TC Pipelines, from a “sell” rating to a “hold” rating in a report on Monday, August 8th. Citigroup Inc. increased their price target on TC Pipelines, from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Royal Bank Of Canada increased their price target on TC Pipelines, from $53.00 to $61.00 and gave the stock a “sector perform” rating in a report on Monday, June 13th. TheStreet downgraded TC Pipelines, from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, JPMorgan Chase & Co. increased their price target on TC Pipelines, from $53.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, May 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. TC Pipelines, currently has a consensus rating of “Hold” and a consensus price target of $54.88.
The company has a market capitalization of $3.51 billion, a PE ratio of 163.4966 and a beta of 0.73. The firm’s 50-day moving average price is $52.99 and its 200-day moving average price is $53.48.
TC Pipelines, (NYSE:TCP) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.12. Analysts predict that TC Pipelines, LP will post $3.28 EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. Springbok Capital Management LLC acquired a new position in shares of TC Pipelines, during the first quarter worth about $593,000. Energy Income Partners LLC increased its position in shares of TC Pipelines, by 5.2% in the first quarter. Energy Income Partners LLC now owns 2,604,826 shares of the company’s stock worth $125,605,000 after buying an additional 129,115 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of TC Pipelines, by 54.8% in the first quarter. Renaissance Technologies LLC now owns 69,500 shares of the company’s stock worth $3,351,000 after buying an additional 24,600 shares in the last quarter. Spirit of America Management Corp NY increased its position in shares of TC Pipelines, by 35.8% in the second quarter. Spirit of America Management Corp NY now owns 165,334 shares of the company’s stock worth $9,467,000 after buying an additional 43,598 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in shares of TC Pipelines, during the second quarter worth about $3,082,000.
TC Pipelines, Company Profile
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 has approximately four pipelines and equity ownership interests in over three natural gas interstate pipeline systems that are collectively designed to transport 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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