Trading Report: Today: Global X Management Co. LLC Reached $9,436,000 position of TC Pipelines, LP (TCP)

Today: Global X Management Co. LLC Reached $9,436,000 position  of TC Pipelines, LP (TCP)

Global X Management Co. LLC increased its stake in shares of TC Pipelines, LP (NYSE:TCP) by 8.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 165,455 shares of the company’s stock after buying an additional 12,491 shares during the period. Global X Management Co. LLC owned about 0.25% of TC Pipelines, worth $9,436,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in TCP. JPMorgan Chase & Co. boosted its stake in shares of TC Pipelines, by 0.8% in the third quarter. JPMorgan Chase & Co. now owns 752,339 shares of the company’s stock valued at $42,906,000 after buying an additional 6,131 shares in the last quarter. Sei Investments Co. bought a new stake in shares of TC Pipelines, during the third quarter valued at about $228,000. Mariner Investment Group LLC boosted its stake in shares of TC Pipelines, by 195.1% in the third quarter. Mariner Investment Group LLC now owns 71,700 shares of the company’s stock valued at $4,089,000 after buying an additional 47,400 shares in the last quarter. Alps Advisors Inc. boosted its stake in shares of TC Pipelines, by 4.2% in the third quarter. Alps Advisors Inc. now owns 3,100,678 shares of the company’s stock valued at $176,832,000 after buying an additional 124,774 shares in the last quarter. Finally, State Treasurer State of Michigan boosted its stake in shares of TC Pipelines, by 11.4% in the third quarter. State Treasurer State of Michigan now owns 362,500 shares of the company’s stock valued at $20,673,000 after buying an additional 37,000 shares in the last quarter.

Shares of TC Pipelines, LP (NYSE:TCP) traded down 1.478% during trading on Monday, reaching $53.606. 17,568 shares of the company’s stock were exchanged. TC Pipelines, LP has a 52-week low of $34.25 and a 52-week high of $60.48. The firm has a market capitalization of $3.59 billion, a P/E ratio of 183.582 and a beta of 0.73. The company has a 50 day moving average of $53.68 and a 200 day moving average of $54.40.

TC Pipelines, (NYSE:TCP) last released its quarterly earnings results on Friday, November 4th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. The firm had revenue of $91 million for the quarter, compared to the consensus estimate of $97.80 million. Equities analysts anticipate that TC Pipelines, LP will post $3.29 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Tuesday, November 1st were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Friday, October 28th. This represents a $3.76 annualized dividend and a yield of 6.91%.

Several analysts have recently issued reports on the stock. Zacks Investment Research raised shares of TC Pipelines, from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Wednesday, November 16th. Wells Fargo & Co. reissued a “neutral” rating on shares of TC Pipelines, in a research note on Wednesday, November 9th. Finally, TheStreet cut shares of TC Pipelines, from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. TC Pipelines, currently has a consensus rating of “Hold” and a consensus target price of $54.75.

TC Pipelines, Company Profile

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