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Will This Upgrade Help TC PipeLines (TCP) Today? (Update)

Stocks in this article: TCP

Update (9:40 a.m.): Updated with Monday market open information.

NEW YORK (TheStreet) -- UBS upgraded TC PipeLines  (TCP) to "buy" from "neutral" and set a $51 target price. The firm noted drop-downs of gas assets used to fund internal growth projects.

The stock was rising 1.57% to $47.27 at 9:35 a.m. on Monday.

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STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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Separately, TheStreet Ratings team rates TC PIPELINES LP as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate TC PIPELINES LP (TCP) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • TCP's revenue growth has slightly outpaced the industry average of 7.8%. Since the same quarter one year prior, revenues slightly increased by 1.1%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • The gross profit margin for TC PIPELINES LP is currently very high, coming in at 76.14%. It has increased from the same quarter the previous year. Along with this, the net profit margin of 46.59% significantly outperformed against the industry average.
  • TCP's debt-to-equity ratio of 0.88 is somewhat low overall, but it is high when compared to the industry average, implying that the management of the debt levels should be evaluated further.
  • The change in net income from the same quarter one year ago has significantly exceeded that of the Oil, Gas & Consumable Fuels industry average, but is less than that of the S&P 500. The net income has decreased by 6.8% when compared to the same quarter one year ago, dropping from $44.00 million to $41.00 million.
  • TC PIPELINES LP has improved earnings per share by 12.5% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. We feel it is likely to report a decline in earnings in the coming year. During the past fiscal year, TC PIPELINES LP reported lower earnings of $2.57 versus $3.27 in the prior year. For the next year, the market is expecting a contraction of 11.9% in earnings ($2.27 versus $2.57).
  • You can view the full analysis from the report here: TCP Ratings Report

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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