Brokerage firm Barclays Downgrades its rating on TC Pipelines LP(NYSE:TCP). In a research note issued to the investors, the brokerage major Lowers the price-target to $49.00 per share. The shares have been rated Underweight. Previously, the analysts had a Equal-weight rating on the shares. The rating by Barclays was issued on Jun 20, 2016.
In a different note, On May 27, 2016, JP Morgan said it Maintains its rating on TC Pipelines LP. In the research note, the firm Raises the price-target to $53.00 per share. The shares have been rated ‘Neutral’ by the firm. On May 6, 2016, Ladenburg Thalmann said it Downgrades its rating on TC Pipelines LP. In the research note, the firm Raises the price-target to $52.00 per share. The shares have been rated ‘Neutral’ by the firm.
TC Pipelines LP (TCP) shares turned negative on Fridays trading session with the shares closing down -0.22 points or -0.38% at a volume of 1,17,693. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $58.74. The peak price level was also seen at $58.74 while the days lowest was $55.94. Finally the shares closed at $57.17. The 52-week high of the shares is $61.74 while the 52-week low is $34.25. According to the latest information available, the market cap of the company is $3,830 M.
TC Pipelines LP(TCP) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $86.00M. Analysts had an estimated revenue of $105.24M. Earnings per share were $1.10. Analysts had estimated an EPS of $0.91.
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 is managed by its General Partner which is an indirect wholly owned subsidiary of TransCanada. It has equity ownership interests in two natural gas interstate pipeline systems as well as three wholly-owned and one majority owned pipeline. Collectively the pipelines are designed to transport approximately 8.9 billion cubic feet per day of natural gas from producing regions and import facilities to market hubs and consuming markets primarily in the Western and Midwestern United States. Its pipeline systems include Great Lakes Gas Transmission Limited Partnership Northern Border Pipeline Company Gas Transmission Northwest LLC Bison Pipeline LLC North Baja Pipeline LLC and Tuscarora Gas Transmission Company.