Alps Advisors Inc. increased its position in shares of TC PipeLines, LP (NYSE:TCP) by 4.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,785,171 shares of the pipeline company’s stock after buying an additional 166,952 shares during the period. TC PipeLines, accounts for about 1.5% of Alps Advisors Inc.’s investment portfolio, making the stock its 17th largest position. Alps Advisors Inc. owned about 5.49% of TC PipeLines, worth $208,184,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TCP. UBS Group AG increased its position in shares of TC PipeLines, by 1.5% in the first quarter. UBS Group AG now owns 1,952,056 shares of the pipeline company’s stock worth $116,459,000 after buying an additional 29,740 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its position in shares of TC PipeLines, by 12.2% in the first quarter. Kayne Anderson Capital Advisors LP now owns 1,385,077 shares of the pipeline company’s stock worth $82,620,000 after buying an additional 151,100 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of TC PipeLines, by 3.3% in 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 during the last quarter. Goldman Sachs Group Inc. increased its position in shares of TC PipeLines, by 6.1% in the first quarter. Goldman Sachs Group Inc. now owns 835,331 shares of the pipeline company’s stock worth $49,836,000 after buying an additional 48,211 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of TC PipeLines, by 40.8% in the second quarter. Bank of Montreal Can now owns 533,564 shares of the pipeline company’s stock worth $29,346,000 after buying an additional 154,568 shares during the last quarter. 61.22% of the stock is currently owned by institutional investors and hedge funds.

Shares of TC PipeLines, LP (NYSE:TCP) traded down 0.92% on Tuesday, reaching $51.42. The company’s stock had a trading volume of 14,189 shares. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 16.39 and a beta of 0.97. TC PipeLines, LP has a 1-year low of $47.12 and a 1-year high of $65.03. The company’s 50 day moving average is $56.11 and its 200-day moving average is $58.19.

TC PipeLines, (NYSE:TCP) last issued its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.74 by $0.01. TC PipeLines, had a net margin of 62.63% and a return on equity of 19.77%. The company had revenue of $101 million for the quarter, compared to analyst estimates of $117.39 million. Equities research analysts expect that TC PipeLines, LP will post $3.27 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Tuesday, August 1st were given a dividend of $1.00 per share. The ex-dividend date was Friday, July 28th. This is a boost from TC PipeLines,’s previous quarterly dividend of $0.94. This represents a $4.00 annualized dividend and a yield of 7.71%. TC PipeLines,’s dividend payout ratio is 127.80%.

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TCP has been the topic of a number of recent analyst reports. UBS AG reissued a “buy” rating and issued a $68.00 price objective (up from $67.00) on shares of TC PipeLines, in a research note on Friday, May 5th. Barclays PLC reissued an “underweight” rating and issued a $58.00 price objective (up from $57.00) on shares of TC PipeLines, in a research note on Wednesday, August 9th. Zacks Investment Research raised TC PipeLines, from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. BidaskClub downgraded TC PipeLines, from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Finally, Wolfe Research initiated coverage on TC PipeLines, in a research note on Friday, May 12th. They issued a “market perform” rating and a $60.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $63.33.

About TC PipeLines,

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.

Institutional Ownership by Quarter for TC PipeLines, (NYSE:TCP)

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