Oxbow Advisors LLC held its position in TC Pipelines, LP (NYSE:TCP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,600 shares of the company’s stock at the end of the second quarter. Oxbow Advisors LLC’s holdings in TC Pipelines, were worth $721,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in TCP. Avalon Advisors LLC boosted its position in TC Pipelines, by 22.5% in the first quarter. Avalon Advisors LLC now owns 8,515 shares of the company’s stock worth $411,000 after buying an additional 1,563 shares in the last quarter. Diligent Investors LLC boosted its position in TC Pipelines, by 1.0% in the second quarter. Diligent Investors LLC now owns 9,848 shares of the company’s stock worth $564,000 after buying an additional 100 shares in the last quarter. Springbok Capital Management LLC bought a new position in TC Pipelines, during the first quarter worth $593,000. BNP Paribas Arbitrage SA bought a new position in TC Pipelines, during the second quarter worth $939,000. Finally, BB&T Corp bought a new position in TC Pipelines, during the second quarter worth $1,380,000.
TC Pipelines, LP (NYSE:TCP) traded down 0.37% during midday trading on Friday, hitting $53.24. The company had a trading volume of 78,761 shares. TC Pipelines, LP has a one year low of $34.25 and a one year high of $60.48. The company’s 50 day moving average is $55.50 and its 200-day moving average is $54.75. The company has a market cap of $3.51 billion, a P/E ratio of 163.31 and a beta of 0.73.
TC Pipelines, (NYSE:TCP) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.12. On average, equities analysts predict that TC Pipelines, LP will post $3.24 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Tuesday, November 1st will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 7.06%. The ex-dividend date is Friday, October 28th.
TCP has been the subject of several research analyst reports. TheStreet cut TC Pipelines, from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Zacks Investment Research cut TC Pipelines, from a “buy” rating to a “hold” rating in a research note on Monday, September 19th. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $53.00 target price on shares of TC Pipelines, in a research note on Wednesday, July 20th. Finally, Citigroup Inc. increased their target price on TC Pipelines, from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. TC Pipelines, has a consensus rating of “Hold” and an average price target of $54.88.
About TC Pipelines,
TC PipeLines, LP is a limited partnership company that 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. The Company has approximately four pipelines and equity ownership interests in over three natural gas interstate pipeline systems that are collectively designed to transport natural gas from producing regions and import facilities to market hubs, and consuming markets primarily in the Western, Midwestern and Eastern United States.