Kaizen Advisory LLC Buys New Stake in TC Pipelines, LP (TCP)

Kaizen Advisory LLC bought a new stake in shares of TC Pipelines, LP (NYSE:TCP) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 31,492 shares of the pipeline company’s stock, valued at approximately $955,000.

Other institutional investors have also modified their holdings of the company. Wells Fargo & Company MN increased its position in TC Pipelines by 10.1% during the 1st quarter. Wells Fargo & Company MN now owns 51,055 shares of the pipeline company’s stock valued at $1,771,000 after buying an additional 4,694 shares in the last quarter. Cribstone Capital Management LLC acquired a new position in shares of TC Pipelines in the second quarter valued at about $156,000. BNP Paribas Arbitrage SA increased its holdings in shares of TC Pipelines by 52.7% in the second quarter. BNP Paribas Arbitrage SA now owns 35,193 shares of the pipeline company’s stock valued at $913,000 after purchasing an additional 12,150 shares during the period. Conning Inc. increased its holdings in shares of TC Pipelines by 6.2% in the second quarter. Conning Inc. now owns 45,458 shares of the pipeline company’s stock valued at $1,180,000 after purchasing an additional 2,638 shares during the period. Finally, Alps Advisors Inc. increased its holdings in shares of TC Pipelines by 2.9% in the second quarter. Alps Advisors Inc. now owns 4,378,065 shares of the pipeline company’s stock valued at $232,475,000 after purchasing an additional 124,110 shares during the period. Institutional investors and hedge funds own 59.41% of the company’s stock.

TCP has been the topic of a number of research reports. Barclays increased their price objective on TC Pipelines from $26.00 to $32.00 and gave the company a “sell” rating in a report on Monday, August 6th. Citigroup increased their price objective on TC Pipelines from $27.50 to $33.00 and gave the company a “hold” rating in a report on Tuesday, July 31st. Zacks Investment Research raised TC Pipelines from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Friday, September 28th. Goldman Sachs Group initiated coverage on TC Pipelines in a report on Monday, October 8th. They issued a “sell” rating and a $23.00 price objective on the stock. Finally, Morgan Stanley set a $35.00 price objective on TC Pipelines and gave the company a “sell” rating in a report on Friday, October 19th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $42.80.

Shares of TCP stock opened at $29.35 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.23 and a debt-to-equity ratio of 1.97. The stock has a market capitalization of $2.19 billion, a PE ratio of 8.31 and a beta of 1.09. TC Pipelines, LP has a fifty-two week low of $22.64 and a fifty-two week high of $57.08.

TC Pipelines (NYSE:TCP) last posted its 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. The firm had revenue of $111.00 million for the quarter. TC Pipelines had a return on equity of 26.67% and a net margin of 66.44%. Research analysts anticipate that TC Pipelines, LP will post 3.86 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Friday, November 2nd will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 8.86%. The ex-dividend date of this dividend is Thursday, November 1st. TC Pipelines’s dividend payout ratio (DPR) is 82.28%.

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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Institutional Ownership by Quarter for TC Pipelines (NYSE:TCP)

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