Equities researchers at Raymond James began coverage on shares of TC Pipelines (NYSE:TCP) in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm set a “market perform” rating on the pipeline company’s stock.
Other equities research analysts have also issued research reports about the stock. Wolfe Research upgraded shares of TC Pipelines from a “peer perform” rating to an “outperform” rating and reduced their price target for the company from $44.00 to $32.00 in a report on Friday, March 20th. JPMorgan Chase & Co. upgraded TC Pipelines from an “underweight” rating to an “overweight” rating and upped their target price for the stock from $41.00 to $46.00 in a report on Wednesday, April 15th. Wells Fargo & Co lifted their price target on TC Pipelines from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Tuesday, April 14th. ValuEngine cut TC Pipelines from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 4th. Finally, Zacks Investment Research downgraded TC Pipelines from a “buy” rating to a “hold” rating and set a $35.00 price objective on the stock. in a research report on Saturday, April 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. TC Pipelines presently has an average rating of “Buy” and an average target price of $42.09.
Shares of NYSE TCP opened at $29.54 on Thursday. TC Pipelines has a twelve month low of $18.00 and a twelve month high of $44.65. The firm has a market cap of $2.21 billion, a PE ratio of 8.05 and a beta of 1.08. The business has a fifty day simple moving average of $33.46 and a two-hundred day simple moving average of $35.48. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 2.42.
TC Pipelines (NYSE:TCP) last announced its quarterly earnings results on Wednesday, May 6th. The pipeline company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.06). TC Pipelines had a net margin of 70.08% and a return on equity of 36.72%. The firm had revenue of $101.00 million for the quarter, compared to analysts’ expectations of $166.87 million. The business’s quarterly revenue was down 10.6% compared to the same quarter last year. On average, research analysts expect that TC Pipelines will post 3.55 earnings per share for the current year.
Hedge funds have recently modified their holdings of the company. Archer Investment Corp acquired a new position in shares of TC Pipelines during the fourth quarter valued at about $50,000. Tower Research Capital LLC TRC purchased a new stake in TC Pipelines during the 1st quarter worth approximately $71,000. Parkside Financial Bank & Trust acquired a new position in TC Pipelines during the 1st quarter valued at approximately $88,000. Vestcor Investment Management Corp purchased a new position in shares of TC Pipelines in the fourth quarter worth $148,000. Finally, Van ECK Associates Corp acquired a new stake in shares of TC Pipelines during the first quarter worth $114,000. Institutional investors and hedge funds own 66.62% of the company’s stock.
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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