TC Pipelines, LP (TCP) Stake Decreased by Spirit of America Management Corp NY

Spirit of America Management Corp NY lessened its stake in shares of TC Pipelines, LP (NYSE:TCP) by 1.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,064 shares of the pipeline company’s stock after selling 1,500 shares during the quarter. Spirit of America Management Corp NY owned about 0.11% of TC Pipelines worth $2,991,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wells Fargo & Company MN lifted its position in shares of TC Pipelines by 45.4% during the 3rd quarter. Wells Fargo & Company MN now owns 81,875 shares of the pipeline company’s stock worth $2,483,000 after buying an additional 25,578 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of TC Pipelines by 667.8% in the 4th quarter. SG Americas Securities LLC now owns 34,029 shares of the pipeline company’s stock valued at $1,093,000 after acquiring an additional 29,597 shares during the period. LPL Financial LLC increased its holdings in shares of TC Pipelines by 9.2% in the 4th quarter. LPL Financial LLC now owns 23,824 shares of the pipeline company’s stock valued at $765,000 after acquiring an additional 2,001 shares during the period. Alps Advisors Inc. increased its holdings in shares of TC Pipelines by 12.6% in the 4th quarter. Alps Advisors Inc. now owns 5,385,639 shares of the pipeline company’s stock valued at $172,987,000 after acquiring an additional 600,824 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of TC Pipelines by 3.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 831,798 shares of the pipeline company’s stock valued at $26,717,000 after acquiring an additional 26,577 shares during the period. Institutional investors and hedge funds own 62.69% of the company’s stock.

TCP traded up $0.34 during trading on Wednesday, hitting $36.37. The stock had a trading volume of 27,382 shares, compared to its average volume of 143,147. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.99 and a current ratio of 1.08. The stock has a market capitalization of $2.60 billion, a P/E ratio of 8.70 and a beta of 0.79. TC Pipelines, LP has a twelve month low of $22.64 and a twelve month high of $37.94.

TC Pipelines (NYSE:TCP) last announced its quarterly earnings data on Thursday, February 21st. The pipeline company reported $1.06 earnings per share (EPS) for the quarter, beating the 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%. Sell-side analysts predict that TC Pipelines, LP will post 3.42 EPS for the current year.

A number of equities analysts have recently commented on TCP shares. JPMorgan Chase & Co. lifted their target price on shares of TC Pipelines from $35.00 to $38.00 and gave the company an “underweight” rating in a report on Monday, March 18th. Wolfe Research cut shares of TC Pipelines from a “market perform” rating to an “underperform” rating in a report on Monday, January 7th. Zacks Investment Research cut shares of TC Pipelines from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 15th. ValuEngine raised shares of TC Pipelines from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. Finally, Barclays reissued a “sell” rating and issued a $33.00 price objective on shares of TC Pipelines in a research note on Friday, February 22nd. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $39.38.

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TC Pipelines Company 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 10.8 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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