TC PipeLines LP [NYSE: TCP] stock went on a downward path that fall over -2.30% on Wednesday, amounting to a one-week price decrease of less than -5.82%. Over the last 12 months, TCP stock dropped by -9.79%. The one-year TC PipeLines LP stock forecast points to a potential upside of 17.05. The average equity rating for TCP stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $2.43 billion, with 71.30 million shares outstanding and 52.32 million shares in the current float. Compared to the average trading volume of 563.17K shares, TCP stock reached a trading volume of 483670 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on TC PipeLines LP [TCP]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TCP shares is $40.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TCP stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Jefferies have made an estimate for TC PipeLines LP shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 12, 2020. While these analysts kept the previous recommendation, JP Morgan raised their target price from $41 to $46. The new note on the price target was released on April 15, 2020, representing the official price target for TC PipeLines LP stock. Previously, the target price had yet another drop from $44 to $32, while Wolfe Research kept a Outperform rating on TCP stock.
The Average True Range (ATR) for TC PipeLines LP is set at 1.69, with the Price to Sales ratio for TCP stock in the period of the last 12 months amounting to 6.22. The Price to Book ratio for the last quarter was 3.58, with the Price to Cash per share for the same quarter was set at 1.83. Price to Free Cash Flow for TCP in the course of the last twelve months was 7.67 with Quick ratio for the last quarter at 1.00.
TCP Stock Performance Analysis:
TC PipeLines LP [TCP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.82. With this latest performance, TCP shares dropped by -4.74% in over the last four-week period, additionally sinking by -20.18% over the last 6 months – not to mention a drop of -9.79% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TCP stock in for the last two-week period is set at 44.52, with the RSI for the last a single of trading hit 40.89, and the three-weeks RSI is set at 47.48 for TC PipeLines LP [TCP]. The present Moving Average for the last 50 days of trading for this stock 33.83, while it was recorded at 34.10 for the last single week of trading, and 36.98 for the last 200 days.
Insight into TC PipeLines LP Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and TC PipeLines LP [TCP] shares currently have an operating margin of +54.59 and a Gross Margin at +63.03. TC PipeLines LP’s Net Margin is presently recorded at +66.25.
Return on Total Capital for TCP is now 7.90, given the latest momentum, and Return on Invested Capital for the company is 10.32. Return on Equity for this stock inclined to 43.77, with Return on Assets sitting at 9.28. When it comes to the capital structure of this company, TC PipeLines LP [TCP] has a Total Debt to Total Equity ratio set at 311.99. Additionally, TCP Total Debt to Total Capital is recorded at 75.73, with Total Debt to Total Assets ending up at 70.21. Long-Term Debt to Equity for the company is recorded at 292.83, with the Long-Term Debt to Total Capital now at 71.08.
Receivables Turnover for the company is 7.68 with a Total Asset Turnover recorded at a value of 0.14.TC PipeLines LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.
TCP Stock EPS
With the latest financial reports released by the company, TC PipeLines LP posted 0.75/share EPS, while the average EPS was predicted by analysts to be reported at 0.83/share.When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -9.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TCP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for TC PipeLines LP go to -1.40%.
TC PipeLines LP [TCP] Insider Position Details
There are presently around $1,669 million, or 89.50% of TCP stock, in the hands of institutional investors. The top three institutional holders of TCP stocks are: ENERGY INCOME PARTNERS, LLC with ownership of 8,620,179, which is approximately 2.306% of the company’s market cap and around 23.96% of the total institutional ownership; ALPS ADVISORS INC, holding 6,997,633 shares of the stock with an approximate value of $237.64 million in TCP stocks shares; and INVESCO LTD., currently with $160.29 million in TCP stock with ownership of nearly -38.59% of the company’s market capitalization.
Positions in TC PipeLines LP stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 63 institutional holders increased their position in TC PipeLines LP [NYSE:TCP] by around 6,894,043 shares. Additionally, 64 investors decreased positions by around 6,041,402 shares, while 34 investors held positions by with 36,204,723 shares. The mentioned changes placed institutional holdings at 49,140,168 shares, according to the latest SEC report filing. TCP stock had 29 new institutional investments in for a total of 3,237,807 shares, while 27 institutional investors sold positions of 289,193 shares during the same period.