Published On: Sat, Sep 17th, 2016

TC Pipelines, LP (TCP) Shares Up 2.1%

TC Pipelines, LP (NYSE:TCP) shot up 2.1% during mid-day trading on Friday . The stock traded as high as $51.98 and last traded at $51.94, with a volume of 153,621 shares. The stock had previously closed at $50.85.
Several research firms have issued reports on TCP. Zacks Investment Research upgraded TC Pipelines, from a “sell” rating to a “hold” rating in a report on Monday, August 8th. Citigroup Inc. lifted their price objective on TC Pipelines, from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Royal Bank Of Canada lifted their price objective on TC Pipelines, from $53.00 to $61.00 and gave the stock a “sector perform” rating in a report on Monday, June 13th. TheStreet downgraded TC Pipelines, from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, JPMorgan Chase & Co. lifted their price objective on TC Pipelines, from $53.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, May 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $54.88.
The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 160.00 and a beta of 0.73. The stock’s 50-day moving average price is $53.11 and its 200-day moving average price is $53.33.

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TC Pipelines, (NYSE:TCP) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.12. Equities research analysts forecast that TC Pipelines, LP will post $3.18 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. Cohen & Steers Inc. increased its stake in TC Pipelines, by 1,201.8% in the second quarter. Cohen & Steers Inc. now owns 2,593,518 shares of the company’s stock valued at $217,155,000 after buying an additional 2,394,295 shares during the period. Kayne Anderson Capital Advisors LP increased its stake in TC Pipelines, by 47.2% in the second quarter. Kayne Anderson Capital Advisors LP now owns 921,054 shares of the company’s stock valued at $52,725,000 after buying an additional 295,500 shares during the period. Nicholas Co. Inc. WI increased its stake in TC Pipelines, by 90.0% in the second quarter. Nicholas Co. Inc. WI now owns 602,067 shares of the company’s stock valued at $34,474,000 after buying an additional 285,261 shares during the period. Allianz Asset Management AG increased its stake in TC Pipelines, by 42.3% in the second quarter. Allianz Asset Management AG now owns 479,804 shares of the company’s stock valued at $27,474,000 after buying an additional 142,548 shares during the period. Finally, Bank of Montreal Can bought a new stake in TC Pipelines, during the second quarter valued at about $7,902,000.
About TC Pipelines,
TC PipeLines, LP is a limited partnership company that 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. The Company has approximately four pipelines and equity ownership interests in over three natural gas interstate pipeline systems that are collectively designed to transport 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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