TC Pipelines, LP (NYSE:TCP) has been given a consensus recommendation of “Hold” by the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $34.50.

Several research firms have weighed in on TCP. Zacks Investment Research cut TC Pipelines from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. ValuEngine upgraded TC Pipelines from a “strong sell” rating to a “sell” rating in a research report on Tuesday, March 19th. Barclays upgraded TC Pipelines from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $33.00 to $40.00 in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. increased their price objective on TC Pipelines from $35.00 to $38.00 and gave the stock an “underweight” rating in a research report on Monday, March 18th.

TCP stock traded up $0.07 during trading hours on Monday, hitting $37.70. 3,942 shares of the stock were exchanged, compared to its average volume of 120,503. The company has a debt-to-equity ratio of 2.81, a current ratio of 1.16 and a quick ratio of 1.07. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 8.94, a P/E/G ratio of 5.33 and a beta of 0.66. The firm has a 50-day moving average price of $36.47. TC Pipelines has a 12 month low of $24.21 and a 12 month high of $38.30.

TC Pipelines (NYSE:TCP) last posted its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.16. The firm had revenue of $113.00 million for the quarter. TC Pipelines had a positive return on equity of 33.52% and a negative net margin of 33.82%. Equities research analysts anticipate that TC Pipelines will post 3.53 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC increased its stake in TC Pipelines by 667.8% in the fourth quarter. SG Americas Securities LLC now owns 34,029 shares of the pipeline company’s stock valued at $1,093,000 after purchasing an additional 29,597 shares during the period. Bollard Group LLC increased its stake in TC Pipelines by 3.0% in the fourth quarter. Bollard Group LLC now owns 13,107 shares of the pipeline company’s stock valued at $421,000 after purchasing an additional 377 shares during the period. Virtus ETF Advisers LLC acquired a new position in TC Pipelines in the fourth quarter valued at $456,000. Portfolio Solutions LLC acquired a new position in TC Pipelines in the fourth quarter valued at $36,000. Finally, First Trust Advisors LP increased its stake in TC Pipelines by 752.0% in the fourth quarter. First Trust Advisors LP now owns 98,444 shares of the pipeline company’s stock valued at $3,162,000 after purchasing an additional 86,890 shares during the period. Institutional investors own 63.04% of the company’s stock.

About TC Pipelines

TC Pipelines LP engages in nautral gas pipelines business. It transports natural gas in Western, Midwestern and Eastern United States. The firm is managed by its general partner TC Pipelines GP, Inc, which is an indirect, wholly-owned subsidiary of TransCanada. The company was founded in 1998 and is headquartered in Houston, TX.

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Analyst Recommendations for TC Pipelines (NYSE:TCP)

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