TC Pipelines, LP (TCP) Receives Consensus Recommendation of “Hold” from Analysts
Shares of TC Pipelines, LP (NYSE:TCP) have received an average recommendation of “Hold” from the eleven ratings firms that are currently covering the company. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $54.75.
TCP has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of TC Pipelines, from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Wednesday, November 16th. TheStreet lowered shares of TC Pipelines, from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Wells Fargo & Co. restated a “neutral” rating on shares of TC Pipelines, in a report on Wednesday, November 9th. Finally, Citigroup Inc. boosted their price objective on shares of TC Pipelines, from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th.
TC Pipelines, (NYSE:TCP) traded down 0.2235% during trading on Tuesday, hitting $54.1886. The stock had a trading volume of 135,238 shares. TC Pipelines, has a 52-week low of $34.25 and a 52-week high of $60.48. The company has a 50-day moving average price of $53.92 and a 200-day moving average price of $54.37. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 185.5774 and a beta of 0.73.
TC Pipelines, (NYSE:TCP) last announced its quarterly earnings data on Friday, November 4th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. The firm earned $91 million during the quarter, compared to analysts’ expectations of $97.80 million. Equities research analysts forecast that TC Pipelines, will post $3.29 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Tuesday, November 1st were paid a $0.94 dividend. The ex-dividend date of this dividend was Friday, October 28th. This represents a $3.76 annualized dividend and a dividend yield of 6.92%.
Large investors have recently bought and sold shares of the company. Diligent Investors LLC raised its stake in TC Pipelines, by 1.0% in the second quarter. Diligent Investors LLC now owns 9,848 shares of the company’s stock valued at $564,000 after buying an additional 100 shares during the period. Alliancebernstein L.P. raised its stake in TC Pipelines, by 2.4% in the second quarter. Alliancebernstein L.P. now owns 8,133 shares of the company’s stock valued at $466,000 after buying an additional 193 shares during the period. Conning Inc. raised its stake in TC Pipelines, by 0.7% in the second quarter. Conning Inc. now owns 32,989 shares of the company’s stock valued at $1,889,000 after buying an additional 245 shares during the period. Williams Jones & Associates LLC raised its stake in TC Pipelines, by 2.8% in the second quarter. Williams Jones & Associates LLC now owns 10,864 shares of the company’s stock valued at $622,000 after buying an additional 300 shares during the period. Finally, BlackRock Inc. raised its stake in TC Pipelines, by 11.5% in the third quarter. BlackRock Inc. now owns 3,426 shares of the company’s stock valued at $195,000 after buying an additional 352 shares during the period.
TC Pipelines, Company Profile
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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