TC Pipelines, LP (TCP) Receives $42.80 Average PT from Analysts

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Shares of TC Pipelines, LP (NYSE:TCP) have been given a consensus recommendation of “Hold” by the thirteen research firms that are covering the company, reports. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $42.80.

TCP has been the subject of a number of research analyst reports. Zacks Investment Research upgraded TC Pipelines from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Friday, September 28th. Citigroup increased their price objective on TC Pipelines from $27.50 to $33.00 and gave the company a “hold” rating in a report on Tuesday, July 31st. Morgan Stanley set a $35.00 price objective on TC Pipelines and gave the company a “sell” rating in a report on Friday, October 19th. Barclays set a $31.00 price objective on TC Pipelines and gave the company a “sell” rating in a report on Saturday, October 13th. Finally, Goldman Sachs Group initiated coverage on TC Pipelines in a report on Monday, October 8th. They issued a “sell” rating and a $23.00 price objective on the stock.

TC Pipelines stock opened at $30.42 on Friday. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.33 and a quick ratio of 1.23. TC Pipelines has a one year low of $22.64 and a one year high of $57.08. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 9.63 and a beta of 1.27.

TC Pipelines (NYSE:TCP) last released its quarterly earnings results on Thursday, August 2nd. The pipeline company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.19. TC Pipelines had a return on equity of 26.67% and a net margin of 66.44%. The company had revenue of $111.00 million during the quarter. As a group, equities analysts predict that TC Pipelines will post 3.86 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Friday, November 2nd will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 8.55%. The ex-dividend date is Thursday, November 1st. TC Pipelines’s dividend payout ratio is presently 82.28%.

Hedge funds have recently made changes to their positions in the company. Cribstone Capital Management LLC acquired a new position in shares of TC Pipelines in the second quarter valued at about $156,000. Ferris Capital LLC grew its holdings in TC Pipelines by 35.7% during the second quarter. Ferris Capital LLC now owns 6,682 shares of the pipeline company’s stock worth $173,000 after acquiring an additional 1,758 shares during the period. Russell Investments Group Ltd. acquired a new stake in TC Pipelines during the third quarter worth about $370,000. Price Capital Management Inc. acquired a new stake in TC Pipelines during the second quarter worth about $504,000. Finally, GSA Capital Partners LLP acquired a new stake in TC Pipelines during the second quarter worth about $568,000. 59.41% of the stock is currently owned by institutional investors and hedge funds.

About TC Pipelines

TC PipeLines, LP acquires, owns, and participates in the management of energy infrastructure businesses in North America. The company has interests in eight natural gas interstate pipeline systems that transport approximately 10.4 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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Analyst Recommendations for TC Pipelines (NYSE:TCP)

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