TC Pipelines (TCP) Coverage Initiated by Analysts at Tudor Pickering

Equities research analysts at Tudor Pickering started coverage on shares of TC Pipelines (NYSE:TCP) in a note issued to investors on Friday. The brokerage set a “hold” rating and a $58.00 price target on the pipeline company’s stock. Tudor Pickering’s price objective would suggest a potential upside of 6.36% from the stock’s previous close.

Several other equities analysts have also recently commented on TCP. Bank of America assumed coverage on shares of TC Pipelines in a research note on Tuesday. They set a “neutral” rating for the company. Royal Bank of Canada reiterated a “buy” rating and set a $72.00 target price on shares of TC Pipelines in a research note on Wednesday, September 27th. Zacks Investment Research upgraded shares of TC Pipelines from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Tuesday, October 17th. Wells Fargo & Co cut their target price on shares of TC Pipelines from $62.00 to $58.00 and set a “market perform” rating for the company in a research note on Wednesday, November 15th. Finally, UBS Group cut their target price on shares of TC Pipelines from $63.00 to $61.00 and set a “buy” rating for the company in a research note on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $60.22.

TC Pipelines (NYSE TCP) traded up $1.02 during trading hours on Friday, reaching $54.53. 219,100 shares of the company traded hands, compared to its average volume of 199,962. The firm has a market cap of $3,810.00, a PE ratio of 18.06, a P/E/G ratio of 2.81 and a beta of 0.96. TC Pipelines has a 1 year low of $48.55 and a 1 year high of $65.03. The company has a current ratio of 1.12, a quick ratio of 1.06 and a debt-to-equity ratio of 2.38.

TC Pipelines (NYSE:TCP) last released its earnings results on Monday, November 6th. The pipeline company reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.06). The company had revenue of $100.00 million for the quarter, compared to analyst estimates of $126.78 million. TC Pipelines had a net margin of 64.04% and a return on equity of 21.46%. research analysts forecast that TC Pipelines will post 3.14 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. IHT Wealth Management LLC acquired a new position in shares of TC Pipelines in the 2nd quarter valued at $1,722,000. The Manufacturers Life Insurance Company raised its stake in shares of TC Pipelines by 8.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,013 shares of the pipeline company’s stock valued at $111,000 after buying an additional 149 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of TC Pipelines in the 2nd quarter valued at $204,000. Wedbush Securities Inc. acquired a new position in shares of TC Pipelines in the 3rd quarter valued at $204,000. Finally, Veritable L.P. raised its stake in shares of TC Pipelines by 15.6% in the 2nd quarter. Veritable L.P. now owns 4,434 shares of the pipeline company’s stock valued at $244,000 after buying an additional 599 shares in the last quarter. Institutional investors own 60.96% of the company’s stock.

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About TC Pipelines

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.

Analyst Recommendations for TC Pipelines (NYSE:TCP)

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