Strategic Global Advisors LLC Has $578,000 Position in TC PipeLines, LP (TCP)
Strategic Global Advisors LLC lowered its stake in shares of TC PipeLines, LP (NYSE:TCP) by 10.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,504 shares of the pipeline company’s stock after selling 1,170 shares during the quarter. Strategic Global Advisors LLC’s holdings in TC PipeLines, were worth $578,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Freestone Capital Holdings LLC grew its position in TC PipeLines, by 4.0% during the second quarter. Freestone Capital Holdings LLC now owns 90,260 shares of the pipeline company’s stock worth $4,964,000 after buying an additional 3,512 shares in the last quarter. Clinton Group Inc. grew its position in TC PipeLines, by 99.4% during the first quarter. Clinton Group Inc. now owns 43,372 shares of the pipeline company’s stock worth $2,588,000 after buying an additional 21,626 shares in the last quarter. Bollard Group LLC grew its position in TC PipeLines, by 1.5% during the second quarter. Bollard Group LLC now owns 213,885 shares of the pipeline company’s stock worth $11,764,000 after buying an additional 3,210 shares in the last quarter. First Trust Advisors LP grew its position in TC PipeLines, by 42.7% during the first quarter. First Trust Advisors LP now owns 206,276 shares of the pipeline company’s stock worth $12,306,000 after buying an additional 61,751 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in TC PipeLines, by 3.3% during the first quarter. JPMorgan Chase & Co. now owns 839,551 shares of the pipeline company’s stock worth $50,088,000 after buying an additional 27,149 shares in the last quarter. 60.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of TC PipeLines, LP (TCP) traded up 0.73% during midday trading on Friday, reaching $52.32. The company had a trading volume of 320,662 shares. The firm has a market capitalization of $3.63 billion, a P/E ratio of 16.67 and a beta of 0.99. The company has a 50 day moving average price of $52.62 and a 200-day moving average price of $56.63. TC PipeLines, LP has a one year low of $47.12 and a one year high of $65.03.
TC PipeLines, (NYSE:TCP) last issued 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). TC PipeLines, had a net margin of 62.63% and a return on equity of 19.77%. The business had revenue of $101.00 million for the quarter, compared to the consensus estimate of $117.39 million. On average, analysts anticipate that TC PipeLines, LP will post $3.23 EPS for the current fiscal year.
A number of equities research analysts recently issued reports on TCP shares. Royal Bank Of Canada reissued a “buy” rating and set a $72.00 price target on shares of TC PipeLines, in a research report on Monday, August 21st. BidaskClub raised TC PipeLines, from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Barclays PLC reissued a “sell” rating and set a $57.00 price target on shares of TC PipeLines, in a research report on Friday, July 21st. Finally, Zacks Investment Research downgraded TC PipeLines, from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $64.17.
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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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