Is TC Pipelines, LP (TCP) A Good Stock to Buy?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually got rid of their positions entirely. It’s worth mentioning that Richard Driehaus’ Driehaus Capital got rid of the biggest position of the 700 funds studied by Insider Monkey, valued at about $4.6 million in stock, and Paul Marshall and Ian Wace’s Marshall Wace LLP was right behind this move, as the fund sold off about $0.8 million worth of shares.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as TC Pipelines, LP (NYSE:TCP) but similarly valued. We will take a look at NuStar Energy L.P. (NYSE:NS), Colfax Corp (NYSE:CFX), Ternium S.A. (ADR) (NYSE:TX), and Cepheid (NASDAQ:CPHD). All of these stocks’ market caps resemble TCP’s market cap.

As you can see these stocks had an average of 21 hedge funds with bullish positions and the average amount invested in these stocks was $387 million. That figure was $18 million in TCP’s case. Cepheid (NASDAQ:CPHD) is the most popular stock in this table. On the other hand NuStar Energy L.P. (NYSE:NS) is the least popular one with only 8 bullish hedge fund positions. Compared to these stocks TC Pipelines, LP (NYSE:TCP) is even less popular than NS. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock.

Disclosure: None