TC Pipelines, LP (TCP) Receives Consensus Rating of “Hold” from Analysts

Shares of TC Pipelines, LP (NYSE:TCP) have received an average recommendation of “Hold” from the ten brokerages that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $38.63.

A number of research analysts have weighed in on the company. Zacks Investment Research upgraded TC Pipelines from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Thursday, March 28th. ValuEngine upgraded TC Pipelines from a “sell” rating to a “hold” rating in a report on Monday, March 25th. Wolfe Research lowered TC Pipelines from a “market perform” rating to an “underperform” rating in a report on Monday, January 7th. JPMorgan Chase & Co. raised their price objective on TC Pipelines from $35.00 to $38.00 and gave the company an “underweight” rating in a report on Monday, March 18th. Finally, Wells Fargo & Co upgraded TC Pipelines from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $31.00 to $38.00 in a report on Tuesday, March 19th.

TCP stock traded down $0.03 during midday trading on Wednesday, reaching $36.94. The stock had a trading volume of 66,184 shares, compared to its average volume of 217,878. 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 firm has a market capitalization of $2.64 billion, a P/E ratio of 8.84 and a beta of 0.79. TC Pipelines has a 52-week low of $22.64 and a 52-week 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 for the quarter, beating 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%. On average, equities analysts forecast that TC Pipelines will post 3.42 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Portfolio Solutions LLC acquired a new stake in shares of TC Pipelines during the 4th quarter worth about $36,000. Signet Investment Advisory Group Inc. acquired a new position in TC Pipelines in the 4th quarter valued at about $41,000. Arlington Partners LLC acquired a new position in TC Pipelines in the 4th quarter valued at about $48,000. Lindbrook Capital LLC acquired a new position in TC Pipelines in the 4th quarter valued at about $48,000. Finally, Advisory Services Network LLC grew its position in TC Pipelines by 173.3% in the 4th quarter. Advisory Services Network LLC now owns 2,050 shares of the pipeline company’s stock valued at $66,000 after acquiring an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 62.69% of the company’s stock.

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 10.4 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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Analyst Recommendations for TC Pipelines (NYSE:TCP)

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