TC Pipelines (NYSE:TCP) had its price target decreased by stock analysts at Morgan Stanley from $56.00 to $37.00 in a research note issued on Friday. The firm currently has an “underweight” rating on the pipeline company’s stock. Morgan Stanley’s price target suggests a potential upside of 8.06% from the stock’s current price.
Other research analysts also recently issued research reports about the stock. UBS restated a “buy” rating and set a $55.00 price objective (down previously from $58.00) on shares of TC Pipelines in a report on Friday, March 2nd. Citigroup upgraded shares of TC Pipelines from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Friday, December 8th. Ladenburg Thalmann Financial Services set a $50.00 price objective on shares of TC Pipelines and gave the stock a “hold” rating in a report on Friday, March 16th. Tudor Pickering initiated coverage on shares of TC Pipelines in a report on Friday, January 12th. They set a “hold” rating and a $58.00 price objective on the stock. Finally, Wells Fargo lowered their price objective on shares of TC Pipelines from $59.00 to $42.00 and set a “market perform” rating on the stock in a report on Thursday. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $52.00.
TC Pipelines (NYSE:TCP) opened at $34.24 on Friday. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.82 and a current ratio of 0.90. TC Pipelines has a 1-year low of $34.19 and a 1-year high of $61.74. The firm has a market cap of $2,490.72, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 2.00 and a beta of 0.94.
Several hedge funds have recently made changes to their positions in TCP. The Manufacturers Life Insurance Company raised its holdings in shares of TC Pipelines by 8.0% in the second quarter. The Manufacturers Life Insurance Company now owns 2,013 shares of the pipeline company’s stock valued at $111,000 after purchasing an additional 149 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of TC Pipelines in the fourth quarter valued at about $120,000. Stuart Chaussee & Associates Inc. purchased a new stake in shares of TC Pipelines in the fourth quarter valued at about $152,000. Mathes Company Inc. purchased a new stake in shares of TC Pipelines in the fourth quarter valued at about $272,000. Finally, Koch Industries Inc. purchased a new stake in shares of TC Pipelines in the fourth quarter valued at about $401,000. Institutional investors own 65.99% of the company’s stock.
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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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