Evergreen Capital Management LLC boosted its stake in shares of TC PipeLines, LP (NYSE:TCP) by 26.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 277,580 shares of the pipeline company’s stock after buying an additional 58,720 shares during the period. TC PipeLines, accounts for 2.5% of Evergreen Capital Management LLC’s holdings, making the stock its 7th largest position. Evergreen Capital Management LLC owned about 0.40% of TC PipeLines, worth $15,267,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp increased its stake in shares of TC PipeLines, by 1.4% in the first quarter. Fifth Third Bancorp now owns 4,388 shares of the pipeline company’s stock valued at $262,000 after buying an additional 62 shares during the period. Level Four Advisory Services LLC increased its stake in shares of TC PipeLines, by 0.8% in the first quarter. Level Four Advisory Services LLC now owns 11,416 shares of the pipeline company’s stock valued at $681,000 after buying an additional 86 shares during the period. IFP Advisors Inc increased its stake in shares of TC PipeLines, by 5.3% in the first quarter. IFP Advisors Inc now owns 1,993 shares of the pipeline company’s stock valued at $119,000 after buying an additional 100 shares during the period. Gould Asset Management LLC CA increased its stake in shares of TC PipeLines, by 2.1% in the first quarter. Gould Asset Management LLC CA now owns 10,075 shares of the pipeline company’s stock valued at $601,000 after buying an additional 210 shares during the period. Finally, Albert D Mason Inc. increased its stake in shares of TC PipeLines, by 0.6% in the first quarter. Albert D Mason Inc. now owns 37,412 shares of the pipeline company’s stock valued at $2,232,000 after buying an additional 230 shares during the period. 60.61% of the stock is owned by institutional investors.

Shares of TC PipeLines, LP (NYSE:TCP) opened at 50.85 on Tuesday. The firm has a market cap of $3.53 billion, a P/E ratio of 16.20 and a beta of 0.97. TC PipeLines, LP has a 52-week low of $47.12 and a 52-week high of $65.03. The stock’s 50 day moving average is $54.91 and its 200-day moving average is $57.62.

TC PipeLines, (NYSE:TCP) last released its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.73 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by $0.01. TC PipeLines, had a return on equity of 19.77% and a net margin of 62.63%. The firm had revenue of $101 million for the quarter, compared to analyst estimates of $117.39 million. Equities analysts anticipate that TC PipeLines, LP will post $3.25 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Tuesday, August 1st were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 7.87%. The ex-dividend date of this dividend was Friday, July 28th. This is a positive change from TC PipeLines,’s previous quarterly dividend of $0.94. TC PipeLines,’s dividend payout ratio (DPR) is 127.80%.

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Several brokerages have issued reports on TCP. UBS AG reaffirmed a “buy” rating and issued a $68.00 price objective (up previously from $67.00) on shares of TC PipeLines, in a research report on Friday, May 5th. Barclays PLC reaffirmed an “underweight” rating and issued a $58.00 price objective (up previously from $57.00) on shares of TC PipeLines, in a research report on Wednesday, August 9th. Zacks Investment Research downgraded shares of TC PipeLines, from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Wolfe Research began coverage on shares of TC PipeLines, in a research report on Friday, May 12th. They issued a “market perform” rating and a $60.00 price objective for the company. Finally, BidaskClub downgraded shares of TC PipeLines, from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $64.17.

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.

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

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