Analysts Offer Insights on Materials Companies: TC Pipelines (NYSE: TCP) and Resolute Energy Corp. (NYSE: REN)

By Austin Angelo

Analysts fell to the sidelines weighing in on TC Pipelines (NYSE: TCP) and Resolute Energy Corp. (NYSE: REN) with neutral ratings,indicating that the experts are neither bullish nor bearish on the stocks.

TC Pipelines (NYSE: TCP)

In a report released today, Michael Blum from Wells Fargo reiterated a Hold rating on TC Pipelines (NYSE: TCP). The company’s shares opened today at $47.50.

Blum said:

“We are raising our 2016 and 2017 DCF/unit estimates to $4.53 and $4.84, respectively, from $4.44 and $4.72 primarily to reflect improved operational results. With no clarity on the pace or size of dropdowns (and therefore distribution growth), we maintain our Market Perform rating. While TRP could theoretically accelerate the growth rate of TCP via an enhanced dropdown portfolio (of Columbia), a lack of visibility keeps us on the sidelines.”

According to TipRanks.com, Blum is a 4-star analyst with an average return of 14.4% and a 62.1% success rate. Blum covers the Basic Materials sector, focusing on stocks such as American Midstreampartners Lp, Holly Energy Partners L.P., and Western Refining Logistics.

TC Pipelines has an analyst consensus of Moderate Sell.

Resolute Energy Corp. (NYSE: REN)

In a report released today, David Tameron from Wells Fargo reiterated a Hold rating on Resolute Energy Corp. (NYSE: REN). The company’s shares opened today at $26.14.

According to TipRanks.com, Tameron is a 1-star analyst with an average return of -8.0% and a 51.9% success rate. Tameron covers the Basic Materials sector, focusing on stocks such as Approach Resources Inc., Whiting Petroleum Corp., and Continental Resources.

Resolute Energy Corp. has an analyst consensus of Moderate Buy, with a price target consensus of $35.