Ffcm LLC lifted its position in TC PipeLines, LP (NYSE:TCP) by 225.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,052 shares of the pipeline company’s stock after buying an additional 1,422 shares during the period. Ffcm LLC’s holdings in TC PipeLines, were worth $120,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc grew its position in shares of TC PipeLines, by 5.3% in the 1st quarter. IFP Advisors Inc now owns 1,993 shares of the pipeline company’s stock worth $119,000 after buying an additional 100 shares during the last quarter. Almanack Investment Partners LLC. acquired a new stake in TC PipeLines, in the 1st quarter worth approximately $138,000. Penserra Capital Management LLC boosted its stake in TC PipeLines, by 214.7% in the 2nd quarter. Penserra Capital Management LLC now owns 2,813 shares of the pipeline company’s stock worth $154,000 after purchasing an additional 1,919 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in TC PipeLines, by 60.5% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,785 shares of the pipeline company’s stock worth $166,000 after purchasing an additional 1,050 shares in the last quarter. Finally, TradeLink Capital LLC acquired a new stake in TC PipeLines, during the 2nd quarter valued at approximately $209,000. 60.61% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on TCP shares. BidaskClub cut shares of TC PipeLines, from a “hold” rating to a “sell” rating in a research note on Saturday, June 10th. Zacks Investment Research cut shares of TC PipeLines, from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Barclays PLC reissued a “sell” rating and issued a $57.00 price target on shares of TC PipeLines, in a report on Friday, July 21st. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $72.00 price target on shares of TC PipeLines, in a report on Monday, August 21st. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $64.17.
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Shares of TC PipeLines, LP (NYSE:TCP) traded down 0.67% during mid-day trading on Friday, hitting $51.59. 37,488 shares of the stock traded hands. The stock has a 50 day moving average price of $52.77 and a 200-day moving average price of $56.68. TC PipeLines, LP has a one year low of $47.12 and a one year high of $65.03. The company has a market cap of $3.58 billion, a P/E ratio of 16.44 and a beta of 0.99.
TC PipeLines, (NYSE:TCP) last issued its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.01). TC PipeLines, had a net margin of 62.63% and a return on equity of 19.77%. The firm had revenue of $101.00 million during the quarter, compared to the consensus estimate of $117.39 million. On average, analysts forecast that TC PipeLines, LP will post $3.23 earnings per share for the current fiscal year.
TC PipeLines, Company 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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