TC PipeLines,’s (TCP) “Underweight” Rating Reiterated at Barclays PLC
TC PipeLines, LP (NYSE:TCP)‘s stock had its “underweight” rating reissued by equities research analysts at Barclays PLC in a report released on Wednesday. They presently have a $58.00 target price on the pipeline company’s stock, up from their previous target price of $57.00. Barclays PLC’s price objective indicates a potential upside of 6.60% from the stock’s previous close.
TCP has been the subject of a number of other reports. Zacks Investment Research raised shares of TC PipeLines, from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. BidaskClub lowered shares of TC PipeLines, from a “hold” rating to a “sell” rating in a research note on Saturday, June 10th. Wolfe Research initiated coverage on shares of TC PipeLines, in a research note on Friday, May 12th. They set a “market perform” rating and a $60.00 target price for the company. Finally, UBS AG reissued a “buy” rating and set a $68.00 target price (up from $67.00) on shares of TC PipeLines, in a research note on Friday, May 5th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $63.33.
Shares of TC PipeLines, (NYSE:TCP) opened at 54.41 on Wednesday. The stock has a 50 day moving average of $55.68 and a 200-day moving average of $58.49. The stock has a market capitalization of $3.75 billion, a PE ratio of 17.50 and a beta of 0.97. TC PipeLines, has a one year low of $47.12 and a one year high of $65.03.
TC PipeLines, (NYSE:TCP) last posted its earnings results on Wednesday, August 2nd. The pipeline company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by $0.01. The firm had revenue of $101 million for the quarter, compared to analyst estimates of $117.39 million. TC PipeLines, had a net margin of 62.63% and a return on equity of 19.77%. Equities analysts predict that TC PipeLines, will post $3.25 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc increased its stake in TC PipeLines, by 5.3% in the first quarter. IFP Advisors Inc now owns 1,993 shares of the pipeline company’s stock worth $119,000 after buying an additional 100 shares during the period. Almanack Investment Partners LLC. bought a new stake in TC PipeLines, during the first quarter worth approximately $138,000. Penserra Capital Management LLC increased its stake in TC PipeLines, by 214.7% in the second quarter. Penserra Capital Management LLC now owns 2,813 shares of the pipeline company’s stock worth $154,000 after buying an additional 1,919 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake in TC PipeLines, by 60.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,785 shares of the pipeline company’s stock worth $166,000 after buying an additional 1,050 shares during the period. Finally, TradeLink Capital LLC bought a new stake in TC PipeLines, during the second quarter worth approximately $209,000. Institutional investors own 60.59% of the company’s stock.
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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