Center Coast Capital Advisors LP boosted its stake in shares of TC PipeLines, LP (NYSE:TCP) by 6.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,034,823 shares of the pipeline company’s stock after purchasing an additional 251,245 shares during the period. TC PipeLines, comprises approximately 5.2% of Center Coast Capital Advisors LP’s holdings, making the stock its 8th largest position. Center Coast Capital Advisors LP owned approximately 5.81% of TC PipeLines, worth $211,102,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in TCP. Ameriprise Financial Inc. grew its position in TC PipeLines, by 27.2% during the first quarter. Ameriprise Financial Inc. now owns 7,076 shares of the pipeline company’s stock valued at $422,000 after purchasing an additional 1,511 shares in the last quarter. Alliancebernstein L.P. grew its position in TC PipeLines, by 40.6% during the first quarter. Alliancebernstein L.P. now owns 11,321 shares of the pipeline company’s stock valued at $675,000 after purchasing an additional 3,269 shares in the last quarter. Renaissance Technologies LLC grew its position in TC PipeLines, by 8.0% during the first quarter. Renaissance Technologies LLC now owns 98,800 shares of the pipeline company’s stock valued at $5,894,000 after purchasing an additional 7,300 shares in the last quarter. KCG Holdings Inc. purchased a new position in TC PipeLines, during the first quarter valued at approximately $285,000. Finally, Credit Suisse AG grew its position in TC PipeLines, by 6.1% during the first quarter. Credit Suisse AG now owns 47,920 shares of the pipeline company’s stock valued at $2,859,000 after purchasing an additional 2,774 shares in the last quarter. 61.16% of the stock is currently owned by hedge funds and other institutional investors.
TC PipeLines, LP (NYSE TCP) traded down $1.00 during mid-day trading on Tuesday, reaching $52.10. 206,600 shares of the company’s stock traded hands, compared to its average volume of 150,367. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.12 and a quick ratio of 1.06. The company has a market capitalization of $3,710.68, a P/E ratio of 17.18, a price-to-earnings-growth ratio of 2.75 and a beta of 0.99. TC PipeLines, LP has a 12 month low of $49.70 and a 12 month high of $65.03.
TC PipeLines, (NYSE:TCP) last posted 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 business had revenue of $100.00 million during the quarter, compared to the consensus estimate of $126.78 million. TC PipeLines, had a return on equity of 21.46% and a net margin of 64.04%. sell-side analysts expect that TC PipeLines, LP will post 3.21 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Friday, November 3rd will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 7.68%. The ex-dividend date of this dividend is Thursday, November 2nd. TC PipeLines,’s payout ratio is 129.45%.
A number of research analysts recently commented on the stock. UBS AG lowered their price objective on shares of TC PipeLines, from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, November 7th. Barclays PLC reissued an “underweight” rating and issued a $58.00 target price (up from $57.00) on shares of TC PipeLines, in a research report on Wednesday, August 9th. Royal Bank Of Canada reissued a “buy” rating and issued a $72.00 target price on shares of TC PipeLines, in a research report on Monday, August 21st. BidaskClub downgraded shares of TC PipeLines, from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Finally, Zacks Investment Research raised 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 report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $61.33.
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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.
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