TC PipeLines, LP (TCP) Earns Buy Rating from Royal Bank Of Canada

Royal Bank Of Canada restated their buy rating on shares of TC PipeLines, LP (NYSE:TCP) in a research note published on Monday morning. The firm currently has a $72.00 target price on the pipeline company’s stock.

Other analysts have also recently issued research reports about the stock. Barclays PLC restated an underweight rating and set a $58.00 target price (up previously from $57.00) on shares of TC PipeLines, in a report on Wednesday, August 9th. BidaskClub cut shares of TC PipeLines, from a sell rating to a strong sell rating in a report on Thursday, August 10th. Finally, Zacks Investment Research cut shares of TC PipeLines, from a hold rating to a sell rating in a report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. TC PipeLines, presently has an average rating of Hold and an average price target of $63.17.

TC PipeLines, (NYSE:TCP) last announced its earnings results on Wednesday, August 2nd. The pipeline company reported $0.73 EPS for the quarter, missing the Zacks’ 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 business had revenue of $101.00 million for the quarter, compared to the consensus estimate of $117.39 million.

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The company also recently declared 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. This represents a $4.00 dividend on an annualized basis and a yield of 7.51%. The ex-dividend date is Thursday, November 2nd. TC PipeLines,’s payout ratio is 127.80%.

A number of institutional investors have recently made changes to their positions in the stock. Alps Advisors Inc. raised its position in TC PipeLines, by 4.6% in the 2nd quarter. Alps Advisors Inc. now owns 3,785,171 shares of the pipeline company’s stock worth $208,184,000 after buying an additional 166,952 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its position in TC PipeLines, by 33.8% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 1,853,077 shares of the pipeline company’s stock worth $101,908,000 after buying an additional 468,000 shares during the last quarter. Goldman Sachs Group Inc. raised its position in TC PipeLines, by 9.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 912,998 shares of the pipeline company’s stock worth $50,215,000 after buying an additional 77,667 shares during the last quarter. Bank of Montreal Can raised its position in TC PipeLines, by 40.8% in the 2nd quarter. Bank of Montreal Can now owns 533,564 shares of the pipeline company’s stock worth $29,346,000 after buying an additional 154,568 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. raised its position in TC PipeLines, by 30.5% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 363,834 shares of the pipeline company’s stock worth $19,036,000 after buying an additional 85,000 shares during the last quarter. Institutional investors own 59.99% of the company’s stock.

About TC PipeLines,

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.

Analyst Recommendations for TC PipeLines, (NYSE:TCP)

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