Capital Investment Advisors LLC Has $436,000 Stake in TC PipeLines, LP (NYSE:TCP)

Capital Investment Advisors LLC held its position in shares of TC PipeLines, LP (NYSE:TCP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,921 shares of the pipeline company’s stock at the end of the second quarter. Capital Investment Advisors LLC’s holdings in TC PipeLines, were worth $436,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UBS Group AG raised its position in shares of TC PipeLines, by 1.5% in the first quarter. UBS Group AG now owns 1,952,056 shares of the pipeline company’s stock valued at $116,459,000 after buying an additional 29,740 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its position in shares of TC PipeLines, by 12.2% in the first quarter. Kayne Anderson Capital Advisors LP now owns 1,385,077 shares of the pipeline company’s stock valued at $82,620,000 after buying an additional 151,100 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of TC PipeLines, by 3.3% in the first quarter. JPMorgan Chase & Co. now owns 839,551 shares of the pipeline company’s stock valued at $50,088,000 after buying an additional 27,149 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of TC PipeLines, by 6.1% in the first quarter. Goldman Sachs Group Inc. now owns 835,331 shares of the pipeline company’s stock valued at $49,836,000 after buying an additional 48,211 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of TC PipeLines, by 2.7% in the first quarter. Bank of Montreal Can now owns 378,996 shares of the pipeline company’s stock valued at $22,611,000 after buying an additional 9,925 shares in the last quarter. 60.20% of the stock is owned by institutional investors.

TC PipeLines, LP (TCP) opened at 56.87 on Wednesday. The company has a market capitalization of $3.92 billion, a P/E ratio of 17.88 and a beta of 0.96. The stock has a 50 day moving average of $55.59 and a 200-day moving average of $58.34. TC PipeLines, LP has a 52-week low of $47.12 and a 52-week high of $65.03.

TC PipeLines, (NYSE:TCP) last posted its earnings results on Thursday, May 4th. The pipeline company reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.07. TC PipeLines, had a net margin of 64.17% and a return on equity of 19.04%. The business had revenue of $89 million for the quarter, compared to analyst estimates of $128 million. On average, equities analysts forecast that TC PipeLines, LP will post $3.21 earnings per share for the current year.

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TCP has been the subject of several recent analyst reports. Zacks Investment Research raised shares of TC PipeLines, from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. BidaskClub lowered shares of TC PipeLines, from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. Finally, Wolfe Research initiated coverage on shares of TC PipeLines, in a report on Friday, May 12th. They set a “market perform” rating and a $60.00 price objective for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. TC PipeLines, presently has a consensus rating of “Hold” and an average price target of $60.43.

TC PipeLines, Company Profile

TC PipeLines, LP is a master limited partnership. The Company 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. As of December 31, 2016, the Company had four pipelines and equity ownership interests in three natural gas interstate pipeline systems that are collectively designed to transport approximately 9.1 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.

Institutional Ownership by Quarter for TC PipeLines, (NYSE:TCP)

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