QS Investors LLC Raises Holdings in TC PipeLines, LP (TCP)
QS Investors LLC raised its position in shares of TC PipeLines, LP (NYSE:TCP) by 69.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,784 shares of the pipeline company’s stock after purchasing an additional 15,479 shares during the quarter. QS Investors LLC owned about 0.05% of TC PipeLines, worth $2,078,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of TCP. Ffcm LLC boosted its stake in TC PipeLines, by 225.7% during the 2nd quarter. Ffcm LLC now owns 2,052 shares of the pipeline company’s stock valued at $120,000 after purchasing an additional 1,422 shares in the last quarter. Almanack Investment Partners LLC. bought a new position in TC PipeLines, during the 1st quarter valued at $138,000. Penserra Capital Management LLC boosted its stake in TC PipeLines, by 214.7% during the 2nd quarter. Penserra Capital Management LLC now owns 2,813 shares of the pipeline company’s stock valued at $154,000 after purchasing an additional 1,919 shares in the last quarter. TradeLink Capital LLC bought a new position in TC PipeLines, during the 2nd quarter valued at $209,000. Finally, Proficio Capital Partners LLC bought a new position in TC PipeLines, during the 1st quarter valued at $217,000. 60.61% of the stock is owned by hedge funds and other institutional investors.
TC PipeLines, LP (NYSE:TCP) opened at 54.30 on Friday. The firm’s 50-day moving average price is $51.99 and its 200-day moving average price is $55.68. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 17.30 and a beta of 1.00. TC PipeLines, LP has a 52 week low of $47.12 and a 52 week 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 for the quarter, missing the 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 company had revenue of $101.00 million during the quarter, compared to the consensus estimate of $117.39 million. On average, equities analysts expect that TC PipeLines, LP will post $3.21 earnings per share for the current year.
A number of equities analysts have issued reports on the company. Barclays PLC reaffirmed an “underweight” rating and set a $58.00 price target (up from $57.00) on shares of TC PipeLines, in a research note on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $72.00 price target on shares of TC PipeLines, in a research note on Monday, August 21st. BidaskClub raised TC PipeLines, from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Finally, Zacks Investment Research lowered TC PipeLines, from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. TC PipeLines, currently has an average rating of “Hold” and a consensus target price of $63.80.
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TC PipeLines, 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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