UBS Maintains a 'Neutral' on TC Pipelines (TCP); Looking Elsewhere as Great Lakes Pipeline Remains Concerning
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Price: $30.21 --0%
Rating Summary:
8 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
8 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Neutral' on TC Pipelines (NYSE: TCP) price target lowered from $46 to $43.
Analyst, Ronald J. Barone, said, "TCP EPU fell short of UBSe and consensus, and well short of year-ago results, as the benefit garnered from the 25% interests TCP acquired in the GTN and Bison pipelines in May 2011 (i.e., not in year-ago numbers) was not enough to overcome weakness elsewhere. This weakness was most pronounced in the Great Lakes Pipeline (~27% of 2011 equity income),
where 28% of long-haul capacity went unsold, largely due to continued challenging nat gas market conditions."
UBS lowers FY12 EPS estimate from $2.89 to $2.70 and FY13 from $2.90 to $2.73.
For an analyst ratings summary and ratings history on TC Pipelines click here. For more ratings news on TC Pipelines click here.
Shares of TC Pipelines closed at $42.67 yesterday.
Analyst, Ronald J. Barone, said, "TCP EPU fell short of UBSe and consensus, and well short of year-ago results, as the benefit garnered from the 25% interests TCP acquired in the GTN and Bison pipelines in May 2011 (i.e., not in year-ago numbers) was not enough to overcome weakness elsewhere. This weakness was most pronounced in the Great Lakes Pipeline (~27% of 2011 equity income),
where 28% of long-haul capacity went unsold, largely due to continued challenging nat gas market conditions."
UBS lowers FY12 EPS estimate from $2.89 to $2.70 and FY13 from $2.90 to $2.73.
For an analyst ratings summary and ratings history on TC Pipelines click here. For more ratings news on TC Pipelines click here.
Shares of TC Pipelines closed at $42.67 yesterday.
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