Texas Yale Capital Corp. decreased its position in shares of TC Pipelines, LP (NYSE:TCP) by 50.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,260 shares of the pipeline company’s stock after selling 133,260 shares during the quarter. Texas Yale Capital Corp. owned 0.19% of TC Pipelines worth $5,013,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Deutsche Bank AG grew its stake in shares of TC Pipelines by 42.1% during the 4th quarter. Deutsche Bank AG now owns 367,734 shares of the pipeline company’s stock worth $11,810,000 after purchasing an additional 108,886 shares during the period. Citigroup Inc. grew its stake in shares of TC Pipelines by 148.4% during the 1st quarter. Citigroup Inc. now owns 316,272 shares of the pipeline company’s stock worth $11,816,000 after purchasing an additional 188,934 shares during the period. California Public Employees Retirement System grew its stake in shares of TC Pipelines by 77.9% during the 1st quarter. California Public Employees Retirement System now owns 130,418 shares of the pipeline company’s stock worth $4,872,000 after purchasing an additional 57,089 shares during the period. First Trust Advisors LP grew its stake in shares of TC Pipelines by 31.0% during the 1st quarter. First Trust Advisors LP now owns 128,938 shares of the pipeline company’s stock worth $4,817,000 after purchasing an additional 30,494 shares during the period. Finally, Cadence Capital Management LLC grew its stake in shares of TC Pipelines by 10.0% during the 1st quarter. Cadence Capital Management LLC now owns 125,790 shares of the pipeline company’s stock worth $4,700,000 after purchasing an additional 11,400 shares during the period. 62.92% of the stock is currently owned by institutional investors and hedge funds.
TCP has been the topic of a number of research analyst reports. Barclays raised shares of TC Pipelines from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $33.00 to $40.00 in a research note on Tuesday, April 16th. Zacks Investment Research raised shares of TC Pipelines from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Tuesday, July 16th. Finally, ValuEngine cut shares of TC Pipelines from a “sell” rating to a “strong sell” rating in a research note on Thursday. Five analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $36.00.
TC Pipelines stock traded down $0.48 during trading on Friday, reaching $39.20. The company had a trading volume of 168,847 shares, compared to its average volume of 238,644. The company has a 50-day moving average of $38.69. TC Pipelines, LP has a 1-year low of $26.88 and a 1-year high of $41.23. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 5.60 and a beta of 0.68. The company has a debt-to-equity ratio of 2.81, a current ratio of 1.16 and a quick ratio of 1.07.
TC Pipelines (NYSE:TCP) last released its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.01). TC Pipelines had a negative net margin of 33.82% and a positive return on equity of 33.52%. The company had revenue of $93.00 million during the quarter. As a group, analysts expect that TC Pipelines, LP will post 3.56 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Friday, August 2nd will be paid a $0.65 dividend. The ex-dividend date is Thursday, August 1st. This represents a $2.60 dividend on an annualized basis and a yield of 6.63%. TC Pipelines’s dividend payout ratio is currently 62.20%.
TC Pipelines 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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