Royal Bank Of Canada reiterated their outperform rating on shares of TC PipeLines, LP (NYSE:TCP) in a report released on Thursday morning, MarketBeat.com reports. They currently have a $68.00 target price on the pipeline company’s stock, down from their previous target price of $72.00.
Several other research analysts have also recently commented on the stock. UBS AG lowered their price target on shares of TC PipeLines, from $63.00 to $61.00 and set a buy rating for the company in a report on Tuesday, November 7th. Zacks Investment Research upgraded shares of TC PipeLines, from a hold rating to a buy rating and set a $60.00 price target for the company in a report on Tuesday, October 17th. BidaskClub upgraded shares of TC PipeLines, from a strong sell rating to a sell rating in a report on Friday, August 25th. Finally, Barclays PLC restated an underweight rating and set a $58.00 price objective (up previously from $57.00) on shares of TC PipeLines, in a research report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $61.33.
Shares of TC PipeLines, (NYSE:TCP) traded down $0.08 during mid-day trading on Thursday, hitting $53.10. 175,300 shares of the company were exchanged, compared to its average volume of 150,109. The company has a quick ratio of 1.06, a current ratio of 1.12 and a debt-to-equity ratio of 2.38. The firm has a market capitalization of $3,640.00, a PE ratio of 17.18, a P/E/G ratio of 2.75 and a beta of 0.99. TC PipeLines, has a 52-week low of $48.70 and a 52-week high of $65.03.
TC PipeLines, (NYSE:TCP) last posted its quarterly earnings results on Monday, November 6th. The pipeline company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.06). TC PipeLines, had a return on equity of 21.46% and a net margin of 64.04%. The firm had revenue of $100.00 million for the quarter, compared to analyst estimates of $126.78 million. equities analysts forecast that TC PipeLines, will post 3.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Friday, November 3rd will be given a $1.00 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $4.00 annualized dividend and a yield of 7.53%. TC PipeLines,’s dividend payout ratio (DPR) is 132.45%.
Institutional investors have recently made changes to their positions in the business. IHT Wealth Management LLC purchased a new position in TC PipeLines, during the 2nd quarter worth $1,722,000. The Manufacturers Life Insurance Company raised its position in TC PipeLines, by 8.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,013 shares of the pipeline company’s stock worth $111,000 after buying an additional 149 shares during the last quarter. Ffcm LLC raised its position in TC PipeLines, by 225.7% during the 2nd quarter. Ffcm LLC now owns 2,052 shares of the pipeline company’s stock worth $120,000 after buying an additional 1,422 shares during the last quarter. Penserra Capital Management LLC raised its position in 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 during the last quarter. Finally, Cetera Investment Advisers purchased a new position in TC PipeLines, during the 2nd quarter worth $204,000. Institutional investors own 61.16% of the company’s stock.
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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