TC Pipelines (NYSE:TCP) Rating Increased to Buy at Bank of America

Bank of America upgraded shares of TC Pipelines (NYSE:TCP) from an underperform rating to a buy rating in a research note released on Friday morning, BenzingaRatingsTable reports. They currently have $47.00 target price on the pipeline company’s stock.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of TC Pipelines from a hold rating to a buy rating and set a $42.00 price target on the stock in a report on Tuesday, July 16th. ValuEngine downgraded shares of TC Pipelines from a sell rating to a strong sell rating in a research note on Thursday, August 1st. Five research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $37.57.

Shares of TC Pipelines stock opened at $40.21 on Friday. The firm has a market capitalization of $2.91 billion, a PE ratio of 9.62, a price-to-earnings-growth ratio of 5.69 and a beta of 0.64. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.63 and a quick ratio of 0.56. The company’s fifty day moving average price is $38.53 and its two-hundred day moving average price is $37.46. TC Pipelines has a 52-week low of $26.88 and a 52-week high of $42.11.



TC Pipelines (NYSE:TCP) last announced its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.01). The business had revenue of $93.00 million during the quarter. TC Pipelines had a negative net margin of 38.56% and a positive return on equity of 35.63%. Analysts predict that TC Pipelines will post 3.72 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the company. Invesco Ltd. acquired a new position in TC Pipelines during the 2nd quarter worth about $594,819,000. Energy Income Partners LLC lifted its position in TC Pipelines by 5.5% during the 2nd quarter. Energy Income Partners LLC now owns 7,984,338 shares of the pipeline company’s stock worth $300,371,000 after buying an additional 414,334 shares in the last quarter. UBS Group AG lifted its position in TC Pipelines by 1.1% during the 2nd quarter. UBS Group AG now owns 2,320,642 shares of the pipeline company’s stock worth $87,302,000 after buying an additional 24,790 shares in the last quarter. Tiedemann Advisors LLC lifted its position in TC Pipelines by 2.2% during the 2nd quarter. Tiedemann Advisors LLC now owns 743,544 shares of the pipeline company’s stock worth $27,972,000 after buying an additional 15,780 shares in the last quarter. Finally, Citigroup Inc. lifted its position in TC Pipelines by 148.4% during the 1st quarter. Citigroup Inc. now owns 316,272 shares of the pipeline company’s stock worth $11,816,000 after buying an additional 188,934 shares in the last quarter. Institutional investors own 66.12% of the company’s stock.

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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Analyst Recommendations for TC Pipelines (NYSE:TCP)

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