Royal Bank of Canada Acquires 3,566 Shares of TC PipeLines, LP (TCP)

Royal Bank of Canada grew its holdings in TC PipeLines, LP (NYSE:TCP) by 11.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,215 shares of the pipeline company’s stock after acquiring an additional 3,566 shares during the period. Royal Bank of Canada’s holdings in TC PipeLines, were worth $1,881,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Goldman Sachs Group Inc. grew its position in TC PipeLines, by 9.3% in the second quarter. Goldman Sachs Group Inc. now owns 912,998 shares of the pipeline company’s stock worth $50,215,000 after acquiring an additional 77,667 shares in the last quarter. QS Investors LLC grew its position in TC PipeLines, by 69.4% in the second quarter. QS Investors LLC now owns 37,784 shares of the pipeline company’s stock worth $2,078,000 after acquiring an additional 15,479 shares in the last quarter. Veritable L.P. grew its position in TC PipeLines, by 15.6% in the second quarter. Veritable L.P. now owns 4,434 shares of the pipeline company’s stock worth $244,000 after acquiring an additional 599 shares in the last quarter. Global Endowment Management LP grew its position in TC PipeLines, by 93.7% in the second quarter. Global Endowment Management LP now owns 19,850 shares of the pipeline company’s stock worth $1,092,000 after acquiring an additional 9,600 shares in the last quarter. Finally, Virtu KCG Holdings LLC grew its position in TC PipeLines, by 89.4% in the second quarter. Virtu KCG Holdings LLC now owns 9,048 shares of the pipeline company’s stock worth $498,000 after acquiring an additional 4,270 shares in the last quarter. 59.99% of the stock is owned by institutional investors.

Several analysts have commented on the stock. 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. 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 Wednesday, September 27th. BidaskClub raised shares of TC PipeLines, from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Finally, 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. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $63.17.

Shares of TC PipeLines, LP (NYSE TCP) opened at 52.37 on Monday. The stock has a 50 day moving average of $52.52 and a 200-day moving average of $54.99. TC PipeLines, LP has a 52 week low of $47.12 and a 52 week high of $65.03. The firm has a market capitalization of $3.63 billion, a PE ratio of 16.69 and a beta of 1.00.

TC PipeLines, (NYSE:TCP) last released its earnings results on Wednesday, August 2nd. The pipeline company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.01). TC PipeLines, had a net margin of 62.63% and a return on equity of 19.77%. The firm had revenue of $101.00 million during the quarter, compared to the consensus estimate of $117.39 million. Equities analysts anticipate that TC PipeLines, LP will post $3.20 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Friday, November 3rd will be paid a $1.00 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $4.00 annualized dividend and a dividend yield of 7.64%. TC PipeLines,’s dividend payout ratio is presently 127.80%.

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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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Institutional Ownership by Quarter for TC PipeLines, (NYSE:TCP)

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