Shares of TC Pipelines, LP (NYSE:TCP) have been assigned a consensus recommendation of “Hold” from the nine ratings firms that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $34.50.
Several analysts recently issued reports on TCP shares. Zacks Investment Research cut shares of W. R. Grace & Co from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Barclays set a €45.00 ($52.33) price objective on shares of Zalando and gave the company a “buy” rating in a research note on Tuesday, April 16th. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Wells Fargo & Co set a $162.00 price objective on shares of Jazz Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, March 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Yum China from $36.50 to $48.00 and gave the company an “overweight” rating in a research note on Monday, March 18th.
Several institutional investors have recently bought and sold shares of the company. Energy Income Partners LLC grew its stake in shares of TC Pipelines by 4.7% in the 4th quarter. Energy Income Partners LLC now owns 7,203,193 shares of the pipeline company’s stock valued at $231,367,000 after buying an additional 321,475 shares during the period. Kayne Anderson Capital Advisors LP grew its stake in shares of TC Pipelines by 14.9% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 457,557 shares of the pipeline company’s stock valued at $14,690,000 after buying an additional 59,400 shares during the period. Deutsche Bank AG grew its stake in shares of TC Pipelines by 42.1% in the 4th quarter. Deutsche Bank AG now owns 367,734 shares of the pipeline company’s stock valued at $11,810,000 after buying an additional 108,886 shares during the period. Citigroup Inc. grew its stake in shares of TC Pipelines by 148.4% in the 1st quarter. Citigroup Inc. now owns 316,272 shares of the pipeline company’s stock valued at $11,816,000 after buying an additional 188,934 shares during the period. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in shares of TC Pipelines in the 4th quarter valued at approximately $6,671,000. 63.04% of the stock is owned by institutional investors and hedge funds.
Shares of TCP stock traded down $0.06 on Friday, reaching $38.58. 2,781 shares of the company were exchanged, compared to its average volume of 127,400. The company has a market cap of $2.75 billion, a P/E ratio of 9.20, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67. The firm has a 50-day moving average of $37.35. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.07 and a current ratio of 1.16. TC Pipelines has a 1 year low of $26.44 and a 1 year high of $38.91.
TC Pipelines (NYSE:TCP) last announced its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.16. TC Pipelines had a negative net margin of 33.82% and a positive return on equity of 33.52%. The company had revenue of $113.00 million during the quarter. Analysts anticipate that TC Pipelines will post 3.53 EPS for the current year.
TC Pipelines Company Profile
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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