Ffcm LLC boosted its stake in shares of TC PipeLines, LP (NYSE:TCP) by 225.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,052 shares of the pipeline company’s stock after acquiring an additional 1,422 shares during the quarter. Ffcm LLC’s holdings in TC PipeLines, were worth $120,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. Evergreen Capital Management LLC lifted its position in TC PipeLines, by 26.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 277,580 shares of the pipeline company’s stock worth $15,267,000 after acquiring an additional 58,720 shares during the period. Neuberger Berman Group LLC raised its stake in shares of TC PipeLines, by 144.0% during the 2nd quarter. Neuberger Berman Group LLC now owns 106,757 shares of the pipeline company’s stock worth $5,872,000 after buying an additional 63,000 shares in the last quarter. Penserra Capital Management LLC raised its stake in shares of TC PipeLines, by 214.7% during the 2nd quarter. Penserra Capital Management LLC now owns 2,813 shares of the pipeline company’s stock worth $154,000 after buying an additional 1,919 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of TC PipeLines, during the 2nd quarter worth approximately $715,000. Finally, Kayne Anderson Capital Advisors LP raised its stake in shares of TC PipeLines, by 33.8% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 1,853,077 shares of the pipeline company’s stock worth $101,908,000 after buying an additional 468,000 shares in the last quarter. 60.61% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on TCP. Barclays PLC reissued an “underweight” rating and set a $58.00 target price (up from $57.00) on shares of TC PipeLines, in a research note on Wednesday, August 9th. BidaskClub downgraded TC PipeLines, from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Zacks Investment Research downgraded TC PipeLines, from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $72.00 target price on shares of TC PipeLines, in a research note on Monday, August 21st. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $64.17.
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TC PipeLines, LP (NYSE TCP) opened at 50.75 on Friday. TC PipeLines, LP has a 1-year low of $47.12 and a 1-year high of $65.03. The company has a 50-day moving average price of $52.34 and a 200 day moving average price of $56.38. The stock has a market capitalization of $3.52 billion, a P/E ratio of 16.17 and a beta of 0.99.
TC PipeLines, (NYSE:TCP) last announced its earnings results on Wednesday, August 2nd. The pipeline company reported $0.73 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.01). TC PipeLines, had a return on equity of 19.77% and a net margin of 62.63%. The firm had revenue of $101.00 million for the quarter, compared to the consensus estimate of $117.39 million. On average, equities analysts predict that TC PipeLines, LP will post $3.23 EPS for the current year.
TC PipeLines, Profile
TC PipeLines, LP is a master limited partnership. The Company acquires, owns and participates in the management of energy infrastructure businesses in North America. The Company’s pipeline systems transport natural gas in the United States. As of December 31, 2016, the Company had four pipelines and equity ownership interests in three natural gas interstate pipeline systems that are collectively designed to transport approximately 9.1 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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