First Trust Advisors LP Grows Holdings in TC Pipelines, LP (TCP)

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First Trust Advisors LP grew its holdings in shares of TC Pipelines, LP (NYSE:TCP) by 752.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,444 shares of the pipeline company’s stock after buying an additional 86,890 shares during the quarter. First Trust Advisors LP owned 0.14% of TC Pipelines worth $3,162,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Citadel Advisors LLC boosted its stake in shares of TC Pipelines by 85.8% in the third quarter. Citadel Advisors LLC now owns 50,255 shares of the pipeline company’s stock valued at $1,524,000 after purchasing an additional 23,200 shares during the period. Wells Fargo & Company MN boosted its stake in shares of TC Pipelines by 45.4% in the third quarter. Wells Fargo & Company MN now owns 81,875 shares of the pipeline company’s stock valued at $2,483,000 after purchasing an additional 25,578 shares during the period. SG Americas Securities LLC boosted its stake in shares of TC Pipelines by 667.8% in the fourth quarter. SG Americas Securities LLC now owns 34,029 shares of the pipeline company’s stock valued at $1,093,000 after purchasing an additional 29,597 shares during the period. Alps Advisors Inc. boosted its stake in shares of TC Pipelines by 12.6% in the fourth quarter. Alps Advisors Inc. now owns 5,385,639 shares of the pipeline company’s stock valued at $172,987,000 after purchasing an additional 600,824 shares during the period. Finally, Arlington Partners LLC purchased a new position in shares of TC Pipelines in the fourth quarter valued at $48,000. Institutional investors own 62.71% of the company’s stock.

TCP has been the subject of several analyst reports. Zacks Investment Research downgraded shares of TC Pipelines from a “buy” rating to a “hold” rating in a research note on Monday, December 31st. Wolfe Research cut shares of TC Pipelines from a “market perform” rating to an “underperform” rating in a report on Monday, January 7th. JPMorgan Chase & Co. cut shares of TC Pipelines from a “neutral” rating to an “underweight” rating and cut their price target for the company from $36.00 to $35.00 in a report on Friday, February 1st. Finally, Barclays reaffirmed a “sell” rating and issued a $33.00 price target on shares of TC Pipelines in a report on Friday, February 22nd. Seven analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Sell” and a consensus target price of $40.80.

Shares of NYSE:TCP opened at $35.63 on Friday. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 8.52 and a beta of 0.76. TC Pipelines, LP has a 1-year low of $22.64 and a 1-year high of $49.94. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.99 and a current ratio of 1.08.

TC Pipelines (NYSE:TCP) last issued its earnings results on Thursday, February 21st. The pipeline company reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.23. The company had revenue of $220.00 million for the quarter. TC Pipelines had a negative net margin of 33.15% and a positive return on equity of 30.60%. As a group, equities research analysts anticipate that TC Pipelines, LP will post 3.32 EPS for the current year.

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TC Pipelines Profile

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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Institutional Ownership by Quarter for TC Pipelines (NYSE:TCP)

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