Gould Asset Management LLC CA Has $382,000 Position in TC Pipelines, LP (TCP)
Gould Asset Management LLC CA increased its position in TC Pipelines, LP (NYSE:TCP) by 35.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,585 shares of the pipeline company’s stock after acquiring an additional 3,280 shares during the quarter. Gould Asset Management LLC CA’s holdings in TC Pipelines were worth $382,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Cribstone Capital Management LLC acquired a new stake in shares of TC Pipelines in the second quarter valued at approximately $156,000. BNP Paribas Arbitrage SA increased its holdings in shares of TC Pipelines by 52.7% in the second quarter. BNP Paribas Arbitrage SA now owns 35,193 shares of the pipeline company’s stock valued at $913,000 after purchasing an additional 12,150 shares in the last quarter. Conning Inc. increased its holdings in shares of TC Pipelines by 6.2% in the second quarter. Conning Inc. now owns 45,458 shares of the pipeline company’s stock valued at $1,180,000 after purchasing an additional 2,638 shares in the last quarter. Alps Advisors Inc. grew its holdings in TC Pipelines by 2.9% during the 2nd quarter. Alps Advisors Inc. now owns 4,378,065 shares of the pipeline company’s stock worth $232,475,000 after acquiring an additional 124,110 shares during the period. Finally, Albert D Mason Inc. grew its holdings in TC Pipelines by 35.3% during the 2nd quarter. Albert D Mason Inc. now owns 52,559 shares of the pipeline company’s stock worth $1,364,000 after acquiring an additional 13,702 shares during the period. 59.40% of the stock is owned by institutional investors.
A number of research firms have commented on TCP. Zacks Investment Research raised shares of TC Pipelines from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Friday, September 28th. Citigroup lifted their target price on shares of TC Pipelines from $27.50 to $33.00 and gave the stock a “hold” rating in a report on Tuesday, July 31st. Goldman Sachs Group began coverage on shares of TC Pipelines in a report on Monday, October 8th. They set a “sell” rating and a $23.00 target price for the company. Morgan Stanley set a $35.00 target price on shares of TC Pipelines and gave the stock a “sell” rating in a report on Friday, October 19th. Finally, Barclays set a $31.00 target price on shares of TC Pipelines and gave the stock a “sell” rating in a report on Saturday, October 13th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $42.80.
TC Pipelines (NYSE:TCP) last announced its quarterly earnings results on Friday, November 9th. The pipeline company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.07. The company had revenue of $103.00 million for the quarter. TC Pipelines had a net margin of 67.81% and a return on equity of 26.32%. Equities analysts expect that TC Pipelines, LP will post 3.86 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Friday, November 2nd will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 8.42%. TC Pipelines’s dividend payout ratio is 82.28%.
TC Pipelines Profile
TC PipeLines, LP acquires, owns, and participates in the management of energy infrastructure businesses in North America. The company has interests in eight natural gas interstate pipeline systems that transport approximately 10.4 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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