TC Pipelines, LP (TCP) Stock Rating Reaffirmed by Wells Fargo & Co.
TC Pipelines, LP (NYSE:TCP)‘s stock had its “neutral” rating reaffirmed by analysts at Wells Fargo & Co. in a research note issued to investors on Wednesday.
TCP has been the subject of several other reports. TheStreet downgraded TC Pipelines, from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Zacks Investment Research downgraded TC Pipelines, from a “buy” rating to a “hold” rating in a research report on Monday, September 19th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $53.00 price target on shares of TC Pipelines, in a research report on Wednesday, July 20th. Finally, Citigroup Inc. increased their price target on TC Pipelines, from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $54.88.
TC Pipelines, (NYSE:TCP) opened at 49.12 on Wednesday. The firm has a market capitalization of $3.24 billion, a PE ratio of 150.67 and a beta of 0.73. The firm has a 50-day moving average price of $54.73 and a 200 day moving average price of $54.50. TC Pipelines, has a one year low of $34.25 and a one year high of $60.48.
TC Pipelines, (NYSE:TCP) last issued its quarterly earnings data on Friday, November 4th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.62 by $0.03. The company earned $91 million during the quarter, compared to analysts’ expectations of $97.80 million. Analysts anticipate that TC Pipelines, will post $3.24 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Tuesday, November 1st will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 7.65%. The ex-dividend date is Friday, October 28th.
Institutional investors have recently bought and sold shares of the company. Diligent Investors LLC raised its position in TC Pipelines, by 1.0% in the second quarter. Diligent Investors LLC now owns 9,848 shares of the company’s stock worth $564,000 after buying an additional 100 shares during the last quarter. Alliancebernstein L.P. raised its position in TC Pipelines, by 2.4% in the second quarter. Alliancebernstein L.P. now owns 8,133 shares of the company’s stock worth $466,000 after buying an additional 193 shares during the last quarter. Conning Inc. raised its position in TC Pipelines, by 0.7% in the second quarter. Conning Inc. now owns 32,989 shares of the company’s stock worth $1,889,000 after buying an additional 245 shares during the last quarter. Williams Jones & Associates LLC raised its position in TC Pipelines, by 2.8% in the second quarter. Williams Jones & Associates LLC now owns 10,864 shares of the company’s stock worth $622,000 after buying an additional 300 shares during the last quarter. Finally, BlackRock Inc. raised its position in TC Pipelines, by 11.5% in the third quarter. BlackRock Inc. now owns 3,426 shares of the company’s stock worth $195,000 after buying an additional 352 shares during the last quarter.
About TC Pipelines,
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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