TC Pipelines Sees Unusually High Options Volume (NYSE:TCP)

TC Pipelines, LP (NYSE:TCP) was the recipient of some unusual options trading on Monday. Stock investors purchased 1,708 call options on the stock. This represents an increase of approximately 2,208% compared to the typical daily volume of 74 call options.

Several equities analysts have issued reports on TCP shares. Barclays reiterated a “sell” rating and set a $33.00 target price on shares of TC Pipelines in a research report on Friday, February 22nd. JPMorgan Chase & Co. cut TC Pipelines from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $36.00 to $35.00 in a research report on Friday, February 1st. Wolfe Research cut TC Pipelines from a “market perform” rating to an “underperform” rating in a research report on Monday, January 7th. Wells Fargo & Co upgraded TC Pipelines from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $31.00 to $38.00 in a report on Tuesday, March 19th. Finally, Zacks Investment Research upgraded TC Pipelines from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Five analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $39.25.

Institutional investors and hedge funds have recently modified their holdings of the stock. Portfolio Solutions LLC purchased a new position in shares of TC Pipelines in the 4th quarter worth $36,000. Truvestments Capital LLC acquired a new stake in TC Pipelines in the 1st quarter valued at $37,000. Signet Investment Advisory Group Inc. acquired a new stake in TC Pipelines in the 4th quarter valued at $41,000. Arlington Partners LLC acquired a new stake in TC Pipelines in the 4th quarter valued at $48,000. Finally, Lindbrook Capital LLC acquired a new stake in TC Pipelines in the 4th quarter valued at $48,000. 62.69% of the stock is currently owned by institutional investors and hedge funds.

Shares of TC Pipelines stock traded down $0.24 during trading hours on Wednesday, reaching $35.05. 153,363 shares of the company’s stock were exchanged, compared to its average volume of 201,027. TC Pipelines has a 52-week low of $22.64 and a 52-week high of $37.94. The firm has a market cap of $2.51 billion, a PE ratio of 8.39 and a beta of 0.79. The company has a quick ratio of 0.99, a current ratio of 1.08 and a debt-to-equity ratio of 2.96.

TC Pipelines (NYSE:TCP) last issued its quarterly earnings results on Thursday, February 21st. The pipeline company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.23. The company had revenue of $220.00 million for the quarter. TC Pipelines had a positive return on equity of 30.60% and a negative net margin of 33.15%. Equities research analysts anticipate that TC Pipelines will post 3.42 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Friday, May 3rd will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 7.42%. The ex-dividend date is Thursday, May 2nd. TC Pipelines’s dividend payout ratio (DPR) is currently 62.20%.

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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 10.8 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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