TC Pipelines (NYSE:TCP) Stock Upgrade
In a note distributed to Clients on Monday morning, BofA Merrill increased shares of TC Pipelines (NYSE:TCP) to a solid “Buy” rating from their previous “Neutral” rating.
From a total of 8 analysts covering TC Pipelines (NYSE:TCP) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $67 while the lowest target price is $42. The mean of all analyst targets is $55.5 with a 34.35% above today’s ($43.32) stock price. TC Pipelines was the topic of 6 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. Ladenburg Thalmann upgraded shares on November 11 to “Buy” rating. Barclays Capital maintained TCP stock in a recent report from August 7 with “Equal Weight” rating.
Approximately 33,542 shares of stock traded hands. TC Pipelines, LP (NYSE:TCP) has declined 35.22% since May 18, 2015 and is downtrending. It has underperformed by 29.41% the S&P500.
The overall sentiment of institutions has increased to 0.91 in Q2 2015. Its up 0.31, from 0.6 in 2015Q2. The ratio increased, as 17 institutions have sold all the shares of TC Pipelines, LP that they owned while 41 funds have taken shares off the table. 15 funds have purchased shares for the first time while 38 added to their positions. These institutions now hold 33.31 million shares or 6.93% less than the 35.79 million shares they owned in 2015Q2.
The Fund Argyll Research Llc currently is holding shares equating to 18.7% of its total portfolio in TC Pipelines, LP representing a total of 1.99 million shares. Another fund,Center Coast Capital Advisors Lp, is holding a total of 3.55 million shares equating to 5.11% of their holdings. Additionally, Weybosset Research & Management Llc has a 113,056 share stake in TC Pipelines, LP which represents 4.01% of their total portfolio. The Fund, Ranger International Management Lp, based out of Illinois, has also built up a stake in the stock, which represents a total of 2.68% of their total portfolio. Finally Energy Income Partners Llc, a fund which is based in the state of Connecticut reported a total holdings of 2.36 million shares.
TC PipeLines, LP is a limited partnership firm that acquires, owns and participates in the management of energy infrastructure businesses in North America. The company has a market cap of $2.74 billion. The company’s pipeline systems transport natural gas in the United States. It has 14.46 P/E ratio. The firm is managed by its General Partner, which is an indirect wholly owned subsidiary of TransCanada.
According to Zacks Investment Research, “TC PipeLines, LP is a United States growth-oriented Master Limited Partnership (MLP). It was formed by TransCanada PipeLines Limited to acquire, own and actively participate in the management of United States based natural gas pipelines and related assets. The Company’s portfolio of interstate natural gas pipeline investments in the United States includes a 100% general partner interest in Tuscarora Gas Transmission Company (Tuscarora), a 46.45% general partner interest in Great Lakes Gas Transmission Limited Partnership (Great Lakes), and a 50% general partner interest in Northern Border Pipeline Company (Northern Border). Its general partner is TransCanada, a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas pipelines, power generation, gas storage facilities, and projects related to oil pipelines.”