Pettinga Financial Advisors LLC Makes New Investment in TC Pipelines, LP (NYSE:TCP)

Pettinga Financial Advisors LLC bought a new position in shares of TC Pipelines, LP (NYSE:TCP) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,740 shares of the pipeline company’s stock, valued at approximately $233,000.

Other large investors have also modified their holdings of the company. Bank of Montreal Can boosted its position in TC Pipelines by 0.8% during the second quarter. Bank of Montreal Can now owns 92,506 shares of the pipeline company’s stock worth $3,480,000 after purchasing an additional 756 shares during the period. Huntington National Bank bought a new position in TC Pipelines during the second quarter worth about $189,000. GSA Capital Partners LLP bought a new position in TC Pipelines during the second quarter worth about $880,000. Allianz Asset Management GmbH bought a new position in TC Pipelines during the second quarter worth about $539,000. Finally, Invesco Ltd. bought a new position in TC Pipelines during the second quarter worth about $594,819,000. Hedge funds and other institutional investors own 66.12% of the company’s stock.

Shares of TCP stock traded up $0.06 during trading hours on Friday, reaching $38.87. The stock had a trading volume of 3,986 shares, compared to its average volume of 356,261. The stock’s fifty day simple moving average is $39.60 and its 200 day simple moving average is $37.90. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 2.63. TC Pipelines, LP has a 12 month low of $26.88 and a 12 month high of $42.11. The firm has a market capitalization of $2.78 billion, a PE ratio of 9.30, a PEG ratio of 5.27 and a beta of 0.69.

TC Pipelines (NYSE:TCP) last released its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.01). TC Pipelines had a negative net margin of 38.56% and a positive return on equity of 35.63%. The firm had revenue of $93.00 million during the quarter. As a group, equities research analysts anticipate that TC Pipelines, LP will post 3.73 EPS for the current fiscal year.

TCP has been the subject of a number of analyst reports. ValuEngine lowered shares of TC Pipelines from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Barclays restated a “hold” rating and issued a $44.00 price objective on shares of TC Pipelines in a research report on Wednesday. Zacks Investment Research upgraded shares of TC Pipelines from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Tuesday, July 16th. Finally, Bank of America upgraded shares of TC Pipelines from an “underperform” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Friday, September 20th. Four investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $40.67.

TC Pipelines Profile

TC Pipelines LP engages in nautral gas pipelines business. It transports natural gas in Western, Midwestern and Eastern United States. The firm is managed by its general partner TC Pipelines GP, Inc, which is an indirect, wholly-owned subsidiary of TransCanada. The company was founded in 1998 and is headquartered in Houston, TX.

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Institutional Ownership by Quarter for TC Pipelines (NYSE:TCP)

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