Tiedemann Advisors LLC raised its position in TC Pipelines, LP (NYSE:TCP) by 28.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 600,363 shares of the pipeline company’s stock after buying an additional 131,400 shares during the period. TC Pipelines makes up about 1.0% of Tiedemann Advisors LLC’s holdings, making the stock its 25th biggest holding. Tiedemann Advisors LLC owned approximately 0.84% of TC Pipelines worth $15,580,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Citigroup Inc. boosted its position in TC Pipelines by 60.0% in the 1st quarter. Citigroup Inc. now owns 52,087 shares of the pipeline company’s stock valued at $1,807,000 after buying an additional 19,533 shares during the last quarter. Cribstone Capital Management LLC purchased a new position in TC Pipelines in the 2nd quarter valued at about $156,000. OppenheimerFunds Inc. boosted its position in TC Pipelines by 1.5% in the 1st quarter. OppenheimerFunds Inc. now owns 9,144,870 shares of the pipeline company’s stock valued at $317,236,000 after buying an additional 139,444 shares during the last quarter. First Trust Advisors LP boosted its position in TC Pipelines by 116.7% in the 2nd quarter. First Trust Advisors LP now owns 72,135 shares of the pipeline company’s stock valued at $1,872,000 after buying an additional 38,840 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of TC Pipelines during the second quarter worth about $3,847,000. 60.01% of the stock is owned by institutional investors.
Shares of TCP stock opened at $34.34 on Monday. The company has a current ratio of 1.33, a quick ratio of 1.23 and a debt-to-equity ratio of 1.97. TC Pipelines, LP has a one year low of $22.64 and a one year high of $57.08. The stock has a market cap of $2.50 billion, a PE ratio of 10.87 and a beta of 1.25.
TC Pipelines (NYSE:TCP) last issued its quarterly earnings results on Thursday, August 2nd. The pipeline company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.81 by $0.19. TC Pipelines had a net margin of 66.44% and a return on equity of 26.67%. The business had revenue of $111.00 million for the quarter. analysts anticipate that TC Pipelines, LP will post 3.81 EPS for the current year.
Several equities analysts have recently commented on TCP shares. Citigroup increased their price target on shares of TC Pipelines from $27.50 to $33.00 and gave the stock a “hold” rating in a research report on Tuesday, July 31st. Barclays increased their price target on shares of TC Pipelines from $26.00 to $32.00 and gave the stock a “sell” rating in a research report on Monday, August 6th. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $47.00.
TC Pipelines Profile
TC PipeLines, LP acquires, owns, and participates in the management of energy infrastructure businesses in North America. The company has interests in eight natural gas interstate pipeline systems that transport approximately 10.4 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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