Tiedemann Advisors LLC lifted its position in shares of TC Pipelines, LP (NYSE:TCP) by 2.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 743,544 shares of the pipeline company’s stock after acquiring an additional 15,780 shares during the period. TC Pipelines comprises approximately 1.4% of Tiedemann Advisors LLC’s holdings, making the stock its 15th largest holding. Tiedemann Advisors LLC owned about 1.04% of TC Pipelines worth $27,972,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Kavar Capital Partners LLC acquired a new stake in shares of TC Pipelines during the 2nd quarter valued at approximately $157,000. Huntington National Bank acquired a new stake in shares of TC Pipelines during the 2nd quarter valued at approximately $189,000. Timber Hill LLC acquired a new stake in shares of TC Pipelines during the 1st quarter valued at approximately $202,000. Seven Post Investment Office LP acquired a new stake in shares of TC Pipelines during the 1st quarter valued at approximately $205,000. Finally, D.A. Davidson & CO. acquired a new stake in shares of TC Pipelines during the 2nd quarter valued at approximately $218,000. 86.10% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on TCP shares. Zacks Investment Research raised TC Pipelines from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Tuesday, July 16th. ValuEngine lowered TC Pipelines from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Five research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $36.00.
TCP traded up $1.87 during trading on Friday, reaching $40.30. 46,741 shares of the company were exchanged, compared to its average volume of 162,662. The stock has a market cap of $2.73 billion, a P/E ratio of 9.65, a PEG ratio of 5.34 and a beta of 0.64. The firm has a 50 day moving average of $38.47 and a 200 day moving average of $37.04. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 2.63. TC Pipelines, LP has a 52 week low of $26.88 and a 52 week high of $41.23.
TC Pipelines (NYSE:TCP) last issued its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.75 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.01). The company had revenue of $93.00 million for the quarter. TC Pipelines had a positive return on equity of 35.63% and a negative net margin of 38.56%. As a group, analysts forecast that TC Pipelines, LP will post 3.58 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 2nd were paid a dividend of $0.65 per share. The ex-dividend date was Thursday, August 1st. This represents a $2.60 dividend on an annualized basis and a yield of 6.45%. TC Pipelines’s payout ratio is currently 62.20%.
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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