TradeLink Capital LLC acquired a new position in shares of TC PipeLines, LP (NYSE:TCP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,800 shares of the pipeline company’s stock, valued at approximately $209,000. TC PipeLines, comprises 1.9% of TradeLink Capital LLC’s holdings, making the stock its 18th largest position.
A number of other hedge funds and other institutional investors have also bought and sold shares of TCP. IFP Advisors Inc raised its position in TC PipeLines, by 5.3% in the first quarter. IFP Advisors Inc now owns 1,993 shares of the pipeline company’s stock worth $119,000 after buying an additional 100 shares in the last quarter. Almanack Investment Partners LLC. acquired a new position in TC PipeLines, during the first quarter worth approximately $138,000. Bronfman E.L. Rothschild L.P. raised its position in TC PipeLines, by 60.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,785 shares of the pipeline company’s stock worth $166,000 after buying an additional 1,050 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in TC PipeLines, during the first quarter worth approximately $217,000. Finally, Fifth Third Bancorp raised its position in TC PipeLines, by 1.4% in the first quarter. Fifth Third Bancorp now owns 4,388 shares of the pipeline company’s stock worth $262,000 after buying an additional 62 shares in the last quarter. Institutional investors own 60.59% of the company’s stock.
Shares of TC PipeLines, LP (NYSE:TCP) opened at 52.78 on Friday. The stock has a market cap of $3.66 billion, a P/E ratio of 16.82 and a beta of 0.97. The stock has a 50 day moving average of $56.10 and a 200 day moving average of $58.32. TC PipeLines, LP has a one year low of $47.12 and a one year high of $65.03.
TC PipeLines, (NYSE:TCP) last released its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by $0.01. TC PipeLines, had a return on equity of 19.77% and a net margin of 62.63%. The firm had revenue of $101 million during the quarter, compared to analyst estimates of $117.39 million. Equities analysts expect that TC PipeLines, LP will post $3.29 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Tuesday, August 1st will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 7.58%. The ex-dividend date of this dividend is Friday, July 28th. This is a boost from TC PipeLines,’s previous quarterly dividend of $0.94. TC PipeLines,’s dividend payout ratio (DPR) is 127.80%.
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A number of research analysts have commented on the stock. Barclays PLC restated an “underweight” rating and issued a $58.00 price objective (up from $57.00) on shares of TC PipeLines, in a research note on Thursday, August 3rd. Zacks Investment Research lowered shares of TC PipeLines, from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. BidaskClub downgraded shares of TC PipeLines, from a “sell” rating to a “strong sell” rating in a report on Thursday. Wolfe Research assumed coverage on shares of TC PipeLines, in a report on Friday, May 12th. They issued a “market perform” rating and a $60.00 target price on the stock. Finally, UBS AG reaffirmed a “buy” rating and issued a $68.00 target price (up previously from $67.00) on shares of TC PipeLines, in a report on Friday, May 5th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $63.33.
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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