TC Pipelines (TCP) Coverage Initiated at Bank of America

Bank of America assumed coverage on shares of TC Pipelines (NYSE:TCP) in a report released on Tuesday. The firm set a “neutral” rating on the pipeline company’s stock.

Other analysts have also recently issued reports about the company. UBS Group reduced their price objective on TC Pipelines from $63.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, November 7th. Wells Fargo & Co reduced their price objective on TC Pipelines from $62.00 to $58.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 15th. Royal Bank of Canada reiterated a “buy” rating and issued a $72.00 price objective on shares of TC Pipelines in a research note on Wednesday, September 27th. Citigroup upgraded TC Pipelines from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Friday, December 8th. Finally, Zacks Investment Research upgraded TC Pipelines from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $60.50.

Shares of TC Pipelines (NYSE TCP) opened at $53.51 on Tuesday. The stock has a market capitalization of $3,740.00, a price-to-earnings ratio of 17.72, a PEG ratio of 2.81 and a beta of 0.96. The company has a quick ratio of 1.06, a current ratio of 1.12 and a debt-to-equity ratio of 2.38. TC Pipelines has a 52 week low of $48.55 and a 52 week high of $65.03.

TC Pipelines (NYSE:TCP) last announced its quarterly earnings data on Monday, November 6th. The pipeline company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.06). The company had revenue of $100.00 million during the quarter, compared to analyst estimates of $126.78 million. TC Pipelines had a net margin of 64.04% and a return on equity of 21.46%. analysts anticipate that TC Pipelines will post 3.14 EPS for the current year.

A number of institutional investors have recently bought and sold shares of TCP. Alps Advisors Inc. raised its stake in TC Pipelines by 12.0% in the third quarter. Alps Advisors Inc. now owns 4,238,723 shares of the pipeline company’s stock valued at $221,770,000 after buying an additional 453,552 shares in the last quarter. Center Coast Capital Advisors LP raised its stake in TC Pipelines by 6.6% in the third quarter. Center Coast Capital Advisors LP now owns 4,034,823 shares of the pipeline company’s stock valued at $211,102,000 after buying an additional 251,245 shares in the last quarter. ING Groep NV raised its stake in TC Pipelines by 262.7% in the third quarter. ING Groep NV now owns 219,514 shares of the pipeline company’s stock valued at $11,485,000 after buying an additional 159,000 shares in the last quarter. Nordea Investment Management AB acquired a new stake in TC Pipelines in the second quarter valued at $8,091,000. Finally, JPMorgan Chase & Co. raised its stake in TC Pipelines by 14.7% in the third quarter. JPMorgan Chase & Co. now owns 931,869 shares of the pipeline company’s stock valued at $48,830,000 after buying an additional 119,210 shares in the last quarter. Institutional investors own 60.96% of the company’s stock.

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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.

Analyst Recommendations for TC Pipelines (NYSE:TCP)

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