Morgan Stanley boosted its position in TC PipeLines, LP (NYSE:TCP) by 3.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 321,009 shares of the pipeline company’s stock after buying an additional 11,894 shares during the period. Morgan Stanley owned 0.47% of TC PipeLines, worth $19,152,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of TC PipeLines, by 0.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,500 shares of the pipeline company’s stock worth $148,000 after buying an additional 7 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of TC PipeLines, by 1.4% in the first quarter. Fifth Third Bancorp now owns 4,388 shares of the pipeline company’s stock worth $262,000 after buying an additional 62 shares during the last quarter. IFP Advisors Inc boosted its position in shares of TC PipeLines, by 5.3% in the first 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. Gould Asset Management LLC CA boosted its position in shares of TC PipeLines, by 2.1% in the first quarter. Gould Asset Management LLC CA now owns 10,075 shares of the pipeline company’s stock worth $601,000 after buying an additional 210 shares during the last quarter. Finally, Albert D Mason Inc. boosted its position in shares of TC PipeLines, by 0.6% in the first quarter. Albert D Mason Inc. now owns 37,412 shares of the pipeline company’s stock worth $2,232,000 after buying an additional 230 shares during the last quarter. 60.59% of the stock is owned by institutional investors.
Shares of TC PipeLines, LP (TCP) traded down 0.58% on Tuesday, reaching $54.41. The company’s stock had a trading volume of 294,344 shares. The stock has a 50-day moving average of $55.68 and a 200 day moving average of $58.49. The company has a market cap of $3.75 billion, a price-to-earnings ratio of 17.50 and a beta of 0.97. TC PipeLines, LP has a 52-week low of $47.12 and a 52-week high of $65.03.
TC PipeLines, (NYSE:TCP) last released its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $101 million for the quarter, compared to the consensus estimate of $117.39 million. On average, equities research analysts forecast that TC PipeLines, LP will post $3.25 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Tuesday, August 1st will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 7.35%. The ex-dividend date of this dividend is Friday, July 28th. This is a positive change from TC PipeLines,’s previous quarterly dividend of $0.94. TC PipeLines,’s payout ratio is currently 127.80%.
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A number of research analysts have issued reports on TCP shares. Barclays PLC reiterated an “underweight” rating and issued a $58.00 target price (up previously from $57.00) on shares of TC PipeLines, in a research report on Thursday, August 3rd. Zacks Investment Research cut TC PipeLines, from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. BidaskClub cut TC PipeLines, from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. Wolfe Research began coverage on TC PipeLines, in a report on Friday, May 12th. They set a “market perform” rating and a $60.00 price target on the stock. Finally, UBS AG restated a “buy” rating and set a $68.00 price target (up from $67.00) on shares of TC PipeLines, in a report on Friday, May 5th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $63.33.
About TC PipeLines,
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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