TC Pipelines (NYSE:TCP) Lowered to Underperform at Wolfe Research

TC Pipelines (NYSE:TCP) was downgraded by investment analysts at Wolfe Research from a “market perform” rating to an “underperform” rating in a report issued on Monday, January 7th, The Fly reports.

Several other research analysts have also recently issued reports on TCP. Zacks Investment Research cut shares of TC Pipelines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 25th. Goldman Sachs Group started coverage on shares of TC Pipelines in a report on Monday, October 8th. They set a “sell” rating and a $23.00 target price on the stock. Barclays set a $31.00 target price on shares of TC Pipelines and gave the stock a “sell” rating in a report on Saturday, October 13th. Finally, Morgan Stanley set a $35.00 target price on shares of TC Pipelines and gave the stock a “sell” rating in a report on Friday, October 19th. Six analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $41.22.

NYSE TCP opened at $32.36 on Monday. The company has a current ratio of 1.02, a quick ratio of 0.95 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $2.41 billion, a PE ratio of 10.24 and a beta of 0.80. TC Pipelines has a 12 month low of $22.64 and a 12 month high of $57.08.

TC Pipelines (NYSE:TCP) last posted its quarterly earnings results on Friday, November 9th. The pipeline company reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.07. TC Pipelines had a net margin of 67.81% and a return on equity of 26.32%. The firm had revenue of $103.00 million for the quarter. As a group, equities research analysts anticipate that TC Pipelines will post 4.06 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in TCP. OppenheimerFunds Inc. lifted its position in shares of TC Pipelines by 15.4% during the third quarter. OppenheimerFunds Inc. now owns 14,142,771 shares of the pipeline company’s stock valued at $428,951,000 after buying an additional 1,884,205 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of TC Pipelines during the third quarter valued at about $24,422,000. Alps Advisors Inc. lifted its position in shares of TC Pipelines by 6.3% during the third quarter. Alps Advisors Inc. now owns 4,784,815 shares of the pipeline company’s stock valued at $145,123,000 after buying an additional 284,533 shares during the last quarter. Tiedemann Advisors LLC lifted its position in shares of TC Pipelines by 28.0% during the second quarter. Tiedemann Advisors LLC now owns 600,363 shares of the pipeline company’s stock valued at $15,580,000 after buying an additional 131,400 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of TC Pipelines during the third quarter valued at about $3,640,000. 63.01% of the stock is 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.

Featured Article: Quick Ratio

The Fly

Analyst Recommendations for TC Pipelines (NYSE:TCP)

Receive News & Ratings for TC Pipelines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TC Pipelines and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply