Spirit of America Management Corp NY raised its stake in shares of TC Pipelines, LP (NYSE:TCP) by 1.2% during the third quarter, Holdings Channel reports. The firm owned 167,284 shares of the company’s stock after buying an additional 1,950 shares during the period. TC Pipelines, accounts for about 1.2% of Spirit of America Management Corp NY’s investment portfolio, making the stock its 27th largest position. Spirit of America Management Corp NY’s holdings in TC Pipelines, were worth $9,540,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Springbok Capital Management LLC purchased a new position in TC Pipelines, during the first quarter worth $593,000. Energy Income Partners LLC raised its position in TC Pipelines, by 5.2% in the first quarter. Energy Income Partners LLC now owns 2,604,826 shares of the company’s stock worth $125,605,000 after buying an additional 129,115 shares during the last quarter. Jennison Associates LLC purchased a new position in TC Pipelines, during the second quarter worth $3,082,000. BB&T Corp purchased a new position in TC Pipelines, during the second quarter worth $1,380,000. Finally, Blair William & Co. IL raised its position in TC Pipelines, by 245.1% in the second quarter. Blair William & Co. IL now owns 19,844 shares of the company’s stock worth $1,136,000 after buying an additional 14,094 shares during the last quarter.
Shares of TC Pipelines, LP (NYSE:TCP) traded down 1.16% during midday trading on Friday, hitting $57.13. 113,471 shares of the stock traded hands. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 175.25 and a beta of 0.73. The company’s 50 day moving average price is $54.67 and its 200-day moving average price is $54.18. TC Pipelines, LP has a 12-month low of $34.25 and a 12-month high of $60.48.
TC Pipelines, (NYSE:TCP) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.12. On average, equities research analysts expect that TC Pipelines, LP will post $3.24 EPS for the current year.
TCP has been the topic of several research analyst reports. Zacks Investment Research raised shares of TC Pipelines, from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Monday, August 22nd. TheStreet downgraded shares of TC Pipelines, from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $53.00 target price on shares of TC Pipelines, in a report on Wednesday, July 20th. Citigroup Inc. boosted their target price on shares of TC Pipelines, from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Finally, Barclays PLC downgraded shares of TC Pipelines, from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $53.00 to $49.00 in a report on Monday, June 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. The stock 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.
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