Marshall Wace North America L.P. purchased a new stake in shares of TC PipeLines, LP (NYSE:TCP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 105,727 shares of the pipeline company’s stock, valued at approximately $5,815,000. Marshall Wace North America L.P. owned about 0.15% of TC PipeLines, at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TCP. Blair William & Co. IL boosted its stake in TC PipeLines, by 10.1% in the second quarter. Blair William & Co. IL now owns 21,844 shares of the pipeline company’s stock valued at $1,201,000 after buying an additional 2,000 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in TC PipeLines, by 55.7% in the second quarter. BNP Paribas Arbitrage SA now owns 9,953 shares of the pipeline company’s stock valued at $547,000 after buying an additional 3,560 shares in the last quarter. Everett Harris & Co. CA boosted its stake in TC PipeLines, by 3.2% in the second quarter. Everett Harris & Co. CA now owns 101,870 shares of the pipeline company’s stock valued at $5,603,000 after buying an additional 3,150 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in TC PipeLines, by 11.8% in the second quarter. Proficio Capital Partners LLC now owns 4,166 shares of the pipeline company’s stock valued at $238,000 after buying an additional 441 shares in the last quarter. Finally, Alps Advisors Inc. boosted its stake in TC PipeLines, by 4.6% in the second quarter. Alps Advisors Inc. now owns 3,785,171 shares of the pipeline company’s stock valued at $208,184,000 after buying an additional 166,952 shares in the last quarter. Institutional investors own 60.61% of the company’s stock.

TC PipeLines, LP (NYSE TCP) opened at 50.85 on Tuesday. The company has a market capitalization of $3.53 billion, a PE ratio of 16.20 and a beta of 0.97. The company has a 50-day moving average price of $54.91 and a 200 day moving average price of $57.62. TC PipeLines, LP has a 12 month low of $47.12 and a 12 month high of $65.03.

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

The company also recently declared 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. The ex-dividend date of this dividend was Friday, July 28th. This represents a $4.00 annualized dividend and a yield of 7.87%. This is a positive change from TC PipeLines,’s previous quarterly dividend of $0.94. TC PipeLines,’s payout ratio is 127.80%.

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TCP has been the subject of several research reports. Zacks Investment Research cut TC PipeLines, from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. 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 report on Friday, May 5th. Wolfe Research initiated coverage on 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. BidaskClub cut TC PipeLines, from a “hold” rating to a “sell” rating in a research report on Saturday, June 10th. Finally, Barclays PLC reissued a “sell” rating and issued a $57.00 price objective on shares of TC PipeLines, in a research report on Friday, July 21st. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus 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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