TC PipeLines, LP (TCP) Receives $60.86 Average PT from Analysts
Shares of TC PipeLines, LP (NYSE:TCP) have been assigned a consensus recommendation of “Hold” from the nine research firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $60.50.
TCP has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 price objective (down from $72.00) on shares of TC PipeLines in a report on Thursday, November 9th. UBS cut their price objective on shares of TC PipeLines from $63.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, November 7th. Zacks Investment Research upgraded shares of TC PipeLines from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Tuesday, October 17th. Wells Fargo & Company cut their price objective on shares of TC PipeLines from $62.00 to $58.00 and set a “market perform” rating on the stock in a report on Wednesday, November 15th. Finally, BidaskClub upgraded shares of TC PipeLines from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its holdings in TC PipeLines by 8.0% in the second quarter. The Manufacturers Life Insurance Company now owns 2,013 shares of the pipeline company’s stock valued at $111,000 after buying an additional 149 shares during the period. Ffcm LLC raised its holdings in TC PipeLines by 225.7% in the second quarter. Ffcm LLC now owns 2,052 shares of the pipeline company’s stock valued at $120,000 after buying an additional 1,422 shares during the period. Penserra Capital Management LLC raised its holdings in TC PipeLines by 214.7% in the second quarter. Penserra Capital Management LLC now owns 2,813 shares of the pipeline company’s stock valued at $154,000 after buying an additional 1,919 shares during the period. Cetera Investment Advisers purchased a new position in TC PipeLines in the second quarter valued at approximately $204,000. Finally, Wedbush Securities Inc. purchased a new position in TC PipeLines in the third quarter valued at approximately $204,000. Hedge funds and other institutional investors own 60.97% of the company’s stock.
TC PipeLines (NYSE:TCP) last announced its quarterly earnings data on Monday, November 6th. The pipeline company reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.06). The company had revenue of $100.00 million for the quarter, compared to analysts’ expectations of $126.78 million. TC PipeLines had a return on equity of 21.46% and a net margin of 64.04%. equities research analysts predict that TC PipeLines will post 3.14 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Friday, November 3rd were issued a $1.00 dividend. The ex-dividend date was Thursday, November 2nd. This represents a $4.00 annualized dividend and a yield of 7.53%. TC PipeLines’s payout ratio is 132.45%.
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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.
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