TC PipeLines, LP (NYSE:TCP) had its price objective lowered by Wells Fargo & Company from $62.00 to $58.00 in a research report report published on Wednesday. Wells Fargo & Company currently has a market perform rating on the pipeline company’s stock.
TCP has been the subject of several other research reports. Barclays PLC restated an underweight rating and issued a $58.00 price objective (up previously from $57.00) on shares of TC PipeLines, in a research report on Thursday, August 3rd. Royal Bank Of Canada restated a buy rating and issued a $72.00 price objective on shares of TC PipeLines, in a research report on Monday, August 21st. BidaskClub upgraded shares of TC PipeLines, from a strong sell rating to a sell rating in a research report on Friday, August 25th. UBS AG lowered their price objective on shares of TC PipeLines, from $63.00 to $61.00 and set a buy rating for the company in a research report on Tuesday, November 7th. Finally, Zacks Investment Research upgraded shares of TC PipeLines, from a hold rating to a buy rating and set a $60.00 price objective for the company in a research report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $60.86.
Shares of TC PipeLines, (TCP) traded down $0.10 during trading on Wednesday, hitting $52.36. 207,850 shares of the company were exchanged, compared to its average volume of 151,437. The firm has a market cap of $3,650.00, a PE ratio of 16.78, a P/E/G ratio of 2.71 and a beta of 0.99. The company has a quick ratio of 1.06, a current ratio of 1.12 and a debt-to-equity ratio of 2.38. TC PipeLines, has a 1-year low of $49.83 and a 1-year high of $65.03.
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The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Friday, November 3rd were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 7.64%. The ex-dividend date of this dividend was Thursday, November 2nd. TC PipeLines,’s dividend payout ratio (DPR) is presently 132.45%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Alps Advisors Inc. boosted its stake in shares of TC PipeLines, by 12.0% in the 3rd quarter. Alps Advisors Inc. now owns 4,238,723 shares of the pipeline company’s stock valued at $221,770,000 after purchasing an additional 453,552 shares during the last quarter. Center Coast Capital Advisors LP boosted its stake in shares of TC PipeLines, by 6.6% in the 3rd quarter. Center Coast Capital Advisors LP now owns 4,034,823 shares of the pipeline company’s stock valued at $211,102,000 after purchasing an additional 251,245 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its stake in shares of TC PipeLines, by 4.3% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 1,933,127 shares of the pipeline company’s stock valued at $101,127,000 after purchasing an additional 80,050 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of TC PipeLines, by 14.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 931,869 shares of the pipeline company’s stock valued at $48,830,000 after purchasing an additional 119,210 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of TC PipeLines, by 9.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 912,998 shares of the pipeline company’s stock valued at $50,215,000 after purchasing an additional 77,667 shares during the last quarter. 61.16% of the stock is currently owned by institutional investors.
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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