TC PipeLines, LP (TCP) Shares Bought by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan grew its holdings in TC PipeLines, LP (NYSE:TCP) by 3.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,710 shares of the pipeline company’s stock after purchasing an additional 1,870 shares during the period. Municipal Employees Retirement System of Michigan owned about 0.08% of TC PipeLines, worth $2,967,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of TCP. Kayne Anderson Capital Advisors LP raised its holdings in shares of TC PipeLines, by 33.8% in the second quarter. Kayne Anderson Capital Advisors LP now owns 1,853,077 shares of the pipeline company’s stock valued at $101,908,000 after purchasing an additional 468,000 shares during the last quarter. Alps Advisors Inc. increased its holdings in TC PipeLines, by 12.0% during the third quarter. Alps Advisors Inc. now owns 4,238,723 shares of the pipeline company’s stock worth $221,770,000 after buying an additional 453,552 shares during the last quarter. Bank of Montreal Can increased its holdings in TC PipeLines, by 40.8% during 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. Nordea Investment Management AB bought a new position in TC PipeLines, during the second quarter worth $8,091,000. Finally, Marshall Wace North America L.P. bought a new position in TC PipeLines, during the second quarter worth $5,815,000. Institutional investors own 61.16% of the company’s stock.
TC PipeLines, LP (NYSE TCP) traded down $0.08 during trading on Monday, hitting $53.10. The stock had a trading volume of 175,300 shares, compared to its average volume of 150,109. TC PipeLines, LP has a one year low of $48.70 and a one year high of $65.03. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.12 and a quick ratio of 1.06. The firm has a market capitalization of $3,640.00, a P/E ratio of 17.18, a P/E/G ratio of 2.75 and a beta of 0.99.
TC PipeLines, (NYSE:TCP) last released its quarterly earnings data on Monday, November 6th. The pipeline company reported $0.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.06). TC PipeLines, had a net margin of 64.04% and a return on equity of 21.46%. The firm had revenue of $100.00 million during the quarter, compared to analyst estimates of $126.78 million. equities research analysts predict that TC PipeLines, LP will post 3.21 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Friday, November 3rd will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 7.53%. The ex-dividend date of this dividend is Thursday, November 2nd. TC PipeLines,’s payout ratio is presently 132.45%.
Several equities research analysts recently weighed in on TCP shares. Royal Bank Of Canada reaffirmed a “buy” rating and set a $72.00 price objective on shares of TC PipeLines, in a research report on Monday, August 21st. UBS AG cut their price objective on shares of TC PipeLines, from $63.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, November 7th. Zacks Investment Research raised shares of TC PipeLines, from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Tuesday, October 17th. Barclays PLC reaffirmed a “sell” rating and set a $57.00 price objective on shares of TC PipeLines, in a research report on Friday, July 21st. Finally, BidaskClub raised shares of TC PipeLines, from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. TC PipeLines, presently has a consensus rating of “Hold” and an average target price of $61.33.
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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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