TC Pipelines, LP (NYSE:TCP) was downgraded by investment analysts at TheStreet from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, StockRatingsNetwork reports.
The analysts wrote, “TC Pipelines (TCP) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company’s earnings per share, disappointing return on equity and weak operating cash flow.”
Shares of TC Pipelines, LP (NYSE:TCP) traded up 2.41% during mid-day trading on Tuesday, hitting $48.46. The stock had a trading volume of 63,736 shares. TC Pipelines, LP has a 52 week low of $38.74 and a 52 week high of $52.61. The stock has a 50-day moving average of $49.67 and a 200-day moving average of $47.62. The company has a market cap of $3.020 billion and a price-to-earnings ratio of 22.41.
TCP has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of TC Pipelines, LP (NYSE:TCP) in a research note to investors on Monday. They now have a $49.00 price target on the stock. Separately, analysts at Bank of America Corp. downgraded shares of TC Pipelines, LP (NYSE:TCP) from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, August 23rd. They now have a $51.00 price target on the stock, down previously from $53.00. Finally, analysts at Ladenburg Thalmann downgraded shares of TC Pipelines, LP (NYSE:TCP) from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, July 25th. They now have a $51.00 price target on the stock.
Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $48.17.
TC PipeLines, LP (NYSE:TCP) acquires, owns and participates in the management of energy infrastructure businesses in North America.
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