Jane Street Group LLC Acquires 3,762 Shares of TC Pipelines, LP (NYSE:TCP)

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Jane Street Group LLC raised its position in shares of TC Pipelines, LP (NYSE:TCP) by 26.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,952 shares of the pipeline company’s stock after acquiring an additional 3,762 shares during the quarter. Jane Street Group LLC’s holdings in TC Pipelines were worth $493,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Archer Investment Corp bought a new stake in TC Pipelines during the 4th quarter valued at approximately $50,000. Tower Research Capital LLC TRC bought a new stake in TC Pipelines during the 1st quarter valued at approximately $71,000. Parkside Financial Bank & Trust bought a new stake in TC Pipelines during the 1st quarter valued at approximately $88,000. Van ECK Associates Corp bought a new stake in TC Pipelines during the 1st quarter valued at approximately $114,000. Finally, Vestcor Investment Management Corp bought a new stake in TC Pipelines during the 4th quarter valued at approximately $148,000. 66.62% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently issued reports on the stock. ValuEngine lowered shares of TC Pipelines from a “sell” rating to a “strong sell” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. upgraded shares of TC Pipelines from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $41.00 to $46.00 in a report on Wednesday, April 15th. Jefferies Financial Group assumed coverage on shares of TC Pipelines in a report on Tuesday, May 12th. They set a “buy” rating and a $39.00 target price for the company. Citigroup lowered their target price on shares of TC Pipelines from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, June 19th. Finally, Wells Fargo & Co lifted their target price on shares of TC Pipelines from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Tuesday, April 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $41.10.

Shares of NYSE TCP opened at $30.44 on Wednesday. TC Pipelines, LP has a twelve month low of $18.00 and a twelve month high of $44.65. The firm has a market cap of $2.23 billion, a P/E ratio of 8.29 and a beta of 1.12. The company has a 50 day moving average of $33.93 and a 200 day moving average of $35.94. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 2.42.

TC Pipelines (NYSE:TCP) last announced its quarterly earnings data on Wednesday, May 6th. The pipeline company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). TC Pipelines had a return on equity of 36.72% and a net margin of 70.08%. The firm had revenue of $101.00 million during the quarter, compared to analysts’ expectations of $166.87 million. The business’s quarterly revenue was down 10.6% on a year-over-year basis. As a group, equities analysts expect that TC Pipelines, LP will post 3.55 earnings per share for the current fiscal year.

TC Pipelines Company Profile

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

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