TC Pipelines LP (TCP) was Downgraded by Barclays to ” Underweight” while Lowering the Price Target of the company shares to $ 49 from a previous price target of $53 . Earlier the firm had a rating of “Equal Weight ” on the company shares. Barclays advised their investors in a research report released on Jun 20, 2016.
Many Wall Street Analysts have commented on TC Pipelines LP. Company shares were Reiterated by RBC Capital Mkts on Jun 13, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 61 from a previous price target of $53 .TC Pipelines LP was Downgraded by Ladenburg Thalmann to ” Neutral” on May 6, 2016. TC Pipelines LP was Initiated by Morgan Stanley to “Underweight” on Apr 13, 2016.
TC Pipelines LP closed down -1.03 points or -1.87% at $54.15 with 4,10,819 shares getting traded on Friday. Post opening the session at $55.91, the shares hit an intraday low of $54.02 and an intraday high of $55.98 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
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.