First Trust Advisors LP Boosts Stock Holdings in TC Pipelines, LP (NYSE:TCP)

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First Trust Advisors LP lifted its stake in shares of TC Pipelines, LP (NYSE:TCP) by 9.4% during the first quarter, Holdings Channel reports. The fund owned 292,106 shares of the pipeline company’s stock after acquiring an additional 25,071 shares during the period. First Trust Advisors LP’s holdings in TC Pipelines were worth $8,027,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Alps Advisors Inc. increased its position in shares of TC Pipelines by 8.2% during the first quarter. Alps Advisors Inc. now owns 6,997,633 shares of the pipeline company’s stock worth $192,295,000 after acquiring an additional 530,825 shares during the period. Goldman Sachs Group Inc. increased its position in shares of TC Pipelines by 112.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,621,515 shares of the pipeline company’s stock worth $110,890,000 after acquiring an additional 1,389,851 shares during the period. Brookfield Public Securities Group LLC increased its position in shares of TC Pipelines by 16.4% during the fourth quarter. Brookfield Public Securities Group LLC now owns 1,643,576 shares of the pipeline company’s stock worth $69,524,000 after acquiring an additional 231,948 shares during the period. Kayne Anderson Capital Advisors LP increased its position in shares of TC Pipelines by 4.0% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 1,494,123 shares of the pipeline company’s stock worth $63,195,000 after acquiring an additional 57,000 shares during the period. Finally, Bank of Montreal Can increased its position in shares of TC Pipelines by 199.6% during the fourth quarter. Bank of Montreal Can now owns 415,406 shares of the pipeline company’s stock worth $17,572,000 after acquiring an additional 276,733 shares during the period. 67.69% of the stock is currently owned by institutional investors and hedge funds.

NYSE TCP opened at $34.71 on Friday. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.02 and a quick ratio of 0.96. TC Pipelines, LP has a 1 year low of $18.00 and a 1 year high of $44.65. The company has a market capitalization of $2.48 billion, a PE ratio of 9.46 and a beta of 1.11. The company has a fifty day moving average of $31.76 and a two-hundred day moving average of $36.91.

TC Pipelines (NYSE:TCP) last released its quarterly earnings data on Wednesday, May 6th. The pipeline company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). TC Pipelines had a net margin of 70.08% and a return on equity of 36.72%. The company had revenue of $101.00 million during the quarter, compared to analyst estimates of $166.87 million. The business’s revenue was down 10.6% compared to the same quarter last year. On average, research analysts expect that TC Pipelines, LP will post 3.5 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 12th. Shareholders of record on Friday, May 1st were paid a $0.65 dividend. The ex-dividend date was Thursday, April 30th. This represents a $2.60 annualized dividend and a yield of 7.49%. TC Pipelines’s dividend payout ratio is presently 69.52%.

A number of analysts have recently weighed in on TCP shares. JPMorgan Chase & Co. raised TC Pipelines from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $41.00 to $46.00 in a research report on Wednesday, April 15th. TheStreet upgraded shares of TC Pipelines from a “c” rating to a “b” rating in a research note on Thursday, February 20th. Zacks Investment Research downgraded shares of TC Pipelines from a “buy” rating to a “hold” rating and set a $35.00 target price for the company. in a research note on Saturday, April 18th. Wells Fargo & Co boosted their target price on shares of TC Pipelines from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 14th. Finally, Royal Bank of Canada upgraded shares of TC Pipelines from a “sector perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research note on Monday, March 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. TC Pipelines has a consensus rating of “Buy” and a consensus target price of $41.60.

About TC Pipelines

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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Want to see what other hedge funds are holding TCP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TC Pipelines, LP (NYSE:TCP).

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

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