Shares of TC Pipelines, LP (NYSE:TCP) have received an average recommendation of “Hold” from the nine analysts that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $34.50.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of TC Pipelines from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. ValuEngine raised shares of TC Pipelines from a “strong sell” rating to a “sell” rating in a report on Tuesday, March 19th. Barclays raised shares of TC Pipelines from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $33.00 to $40.00 in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of TC Pipelines from $35.00 to $38.00 and gave the company an “underweight” rating in a report on Monday, March 18th.
Several hedge funds have recently bought and sold shares of the stock. Lindbrook Capital LLC grew its holdings in shares of TC Pipelines by 24.3% in the first quarter. Lindbrook Capital LLC now owns 1,892 shares of the pipeline company’s stock valued at $70,000 after purchasing an additional 370 shares in the last quarter. Bollard Group LLC grew its holdings in shares of TC Pipelines by 3.0% in the fourth quarter. Bollard Group LLC now owns 13,107 shares of the pipeline company’s stock valued at $421,000 after purchasing an additional 377 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of TC Pipelines by 1.3% in the first quarter. SG Americas Securities LLC now owns 34,479 shares of the pipeline company’s stock valued at $1,288,000 after purchasing an additional 450 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of TC Pipelines in the first quarter valued at $37,000. Finally, Portfolio Solutions LLC purchased a new position in shares of TC Pipelines in the fourth quarter valued at $36,000. 61.64% of the stock is owned by hedge funds and other institutional investors.
TC Pipelines (NYSE:TCP) last announced its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.16. TC Pipelines had a negative net margin of 33.82% and a positive return on equity of 33.52%. The business had revenue of $113.00 million during the quarter. On average, sell-side analysts anticipate that TC Pipelines will post 3.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Friday, May 3rd were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date was Thursday, May 2nd. TC Pipelines’s dividend payout ratio (DPR) is presently 62.20%.
About TC Pipelines
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 10.8 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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