Ladenburg Thalmann set a $50.00 price objective on TC PipeLines (NYSE:TCP) in a report published on Friday, March 16th. The brokerage currently has a hold rating on the pipeline company’s stock.
Several other research analysts have also commented on TCP. Citigroup raised shares of TC PipeLines from a neutral rating to a buy rating and set a $58.00 price target for the company in a report on Friday, December 8th. Bank of America initiated coverage on shares of TC PipeLines in a research note on Tuesday, January 9th. They set a neutral rating for the company. Tudor Pickering initiated coverage on shares of TC PipeLines in a research note on Friday, January 12th. They set a hold rating and a $58.00 target price for the company. Barclays reissued a sell rating and set a $55.00 target price on shares of TC PipeLines in a research note on Friday, January 19th. Finally, Zacks Investment Research lowered shares of TC PipeLines from a hold rating to a sell rating in a research note on Tuesday, February 6th. Six research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $50.50.
Shares of NYSE TCP traded down $1.12 during midday trading on Friday, hitting $31.23. The company’s stock had a trading volume of 718,648 shares, compared to its average volume of 487,821. TC PipeLines has a 1-year low of $30.60 and a 1-year high of $61.74. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.82 and a current ratio of 0.90. The firm has a market capitalization of $2,226.89, a PE ratio of 9.88, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13.
TC PipeLines (NYSE:TCP) last posted its quarterly earnings results on Friday, February 23rd. The pipeline company reported $0.77 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.01). TC PipeLines had a net margin of 62.66% and a return on equity of 22.80%. The business had revenue of $109.00 million during the quarter, compared to analyst estimates of $137.19 million. equities analysts forecast that TC PipeLines will post 3.02 earnings per share for the current year.
Several large investors have recently modified their holdings of TCP. New York State Common Retirement Fund acquired a new stake in shares of TC PipeLines in the 2nd quarter worth approximately $369,000. The Manufacturers Life Insurance Company lifted its stake in shares of TC PipeLines by 8.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,013 shares of the pipeline company’s stock worth $111,000 after acquiring an additional 149 shares during the period. Kayne Anderson Capital Advisors LP lifted its stake in shares of TC PipeLines by 4.3% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 1,933,127 shares of the pipeline company’s stock worth $101,127,000 after acquiring an additional 80,050 shares during the period. ING Groep NV lifted its stake in shares of TC PipeLines by 262.7% in the 3rd quarter. ING Groep NV now owns 219,514 shares of the pipeline company’s stock worth $11,485,000 after acquiring an additional 159,000 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of TC PipeLines by 14.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 931,869 shares of the pipeline company’s stock worth $48,830,000 after acquiring an additional 119,210 shares during the period. 65.99% of the stock is owned by institutional investors.
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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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