Research analysts at Tudor Pickering initiated coverage on shares of TC Pipelines (NYSE:TCP) in a note issued to investors on Friday. The brokerage set a “hold” rating and a $58.00 price target on the pipeline company’s stock. Tudor Pickering’s price target would indicate a potential upside of 5.13% from the stock’s current price.

Several other brokerages also recently issued reports on TCP. Wells Fargo & Co lowered their price target on shares of TC Pipelines from $62.00 to $58.00 and set a “market perform” rating for the company in a report on Wednesday, November 15th. Bank of America initiated coverage on shares of TC Pipelines in a report on Tuesday, January 9th. They set a “neutral” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 price target (down from $72.00) on shares of TC Pipelines in a report on Thursday, November 9th. Zacks Investment Research upgraded shares of TC Pipelines from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Tuesday, October 17th. Finally, UBS Group lowered their price target on shares of TC Pipelines from $63.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $60.22.

TC Pipelines (TCP) opened at $55.17 on Friday. The stock has a market cap of $3,855.33, a price-to-earnings ratio of 17.85, a PEG ratio of 2.89 and a beta of 0.96. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.06 and a current ratio of 1.12. TC Pipelines has a 1-year low of $48.55 and a 1-year high of $65.03.

TC Pipelines (NYSE:TCP) last announced its quarterly earnings results on Monday, November 6th. The pipeline company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.06). The company had revenue of $100.00 million for the quarter, compared to analyst estimates of $126.78 million. TC Pipelines had a return on equity of 21.46% and a net margin of 64.04%. research analysts predict that TC Pipelines will post 3.14 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of the stock. CNH Partners LLC grew its stake in shares of TC Pipelines by 1.0% in the second quarter. CNH Partners LLC now owns 9,975 shares of the pipeline company’s stock worth $549,000 after purchasing an additional 100 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of TC Pipelines by 8.0% in the second quarter. The Manufacturers Life Insurance Company now owns 2,013 shares of the pipeline company’s stock worth $111,000 after purchasing an additional 149 shares during the last quarter. IHT Wealth Management LLC bought a new stake in shares of TC Pipelines in the second quarter worth $1,722,000. Veritable L.P. grew its stake in shares of TC Pipelines by 15.6% in the second quarter. Veritable L.P. now owns 4,434 shares of the pipeline company’s stock worth $244,000 after purchasing an additional 599 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of TC Pipelines by 5.9% in the second quarter. Alliancebernstein L.P. now owns 11,993 shares of the pipeline company’s stock worth $660,000 after purchasing an additional 672 shares during the last quarter. 60.96% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for TC Pipelines (NYSE:TCP)

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