TC Pipelines (TCP) is Upgraded by BofA/Merrill to Buy , according to the research report released to the investors. Earlier the firm had a rating of Neutral on the company shares. The shares recommendation by the Brokerage Firm was released on Dec-22-2015.
Shares of TC PipeLines, LP (NYSE:TCP) ended Thursday session in red amid volatile trading. The shares closed down 0.02 points or 0.05% at $42.43 with 188,282 shares getting traded. Post opening the session at $42.57, the shares hit an intraday low of $41.09 and an intraday high of $43.11 and the price vacillated in this range throughout the day. The company has a market cap of $2,804 million and the number of outstanding shares has been calculated to be 66,079,181 shares. The 52-week high of TC PipeLines, LP (NYSE:TCP) is $78.54 and the 52-week low is $41.1137.
During the last several months other analysts have commented on the company rating. Equity Analysts at the Brokerage Firm, Ladenburg Thalmann, upgrades their rating on the shares of TC PipeLines, LP (NYSE:TCP). Ladenburg Thalmann has a Buy rating on the shares. Previously, the analysts had a Neutral rating on the shares. The rating by the firm was issued on November 11, 2015.
Research firm Zacks has rated TC PipeLines, LP (NYSE:TCP) and has ranked it at 3, indicating that for the short term the shares are a hold. 7 Wall Street analysts have given the company an average rating of 2.57. The shares has received a hold rating based on the suggestion from 4 analysts in latest recommendations. 1 market expert has a sell on the stock. Strong buy was given by 2 Wall Street Analysts.
TC PipeLines, LP (NYSE:TCP): The stock price is expected to reach $ 57.4 in the short term. The number of analysts agreeing with this consensus is 5. The higher estimate for the short term price target is at $67 while the lower estimate is at $50. The standard deviation of the price stands at $6.35.
TC PipeLines, LP has lost 7.01% in the last five trading days and dropped 15.14% in the last 4 weeks. TC PipeLines, LP has dropped 15.7% during the last 3-month period . Year-to-Date the stock performance stands at -36.86%.
TC PipeLines, LP (the Partnership), 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 Partnership is managed by the Company’s General Partner, which is an indirect, wholly-owned subsidiary of TransCanada. The Company has equity ownership interests in four natural gas interstate pipeline systems. The Company’s pipeline systems include Great Lakes, Northern Border, GTN, Bison, North Baja and Tuscarora. In July 2013, TC PipeLines, LP announced the closing of its acquisition of an additional 45% interest in each of Gas Transmission Northwest LLC (GTN) and Bison Pipeline LLC (Bison) from subsidiaries of TransCanada Corporation.