TC PipeLines, LP (NYSE:TCP) declared a quarterly dividend on Friday, July 21st, Wall Street Journal reports. Shareholders of record on Tuesday, August 1st will be paid a dividend of 1.00 per share by the pipeline company on Friday, August 11th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 7.06%. The ex-dividend date of this dividend is Friday, July 28th. This is an increase from TC PipeLines,’s previous quarterly dividend of $0.94.
TC PipeLines, has raised its dividend by an average of 4.8% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. TC PipeLines, has a dividend payout ratio of 124.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect TC PipeLines, to earn $3.13 per share next year, which means the company may not be able to cover its $4.00 annual dividend with an expected future payout ratio of 127.8%.
TC PipeLines, (NYSE:TCP) opened at 56.69 on Friday. The firm has a market cap of $3.91 billion, a PE ratio of 17.83 and a beta of 0.96. TC PipeLines, has a 52 week low of $47.12 and a 52 week high of $65.03. The firm’s 50 day moving average price is $55.41 and its 200-day moving average price is $58.55.
TC PipeLines, (NYSE:TCP) last posted its earnings results on Thursday, May 4th. The pipeline company reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.07. The firm had revenue of $89 million for the quarter, compared to the consensus estimate of $128 million. TC PipeLines, had a net margin of 64.17% and a return on equity of 19.04%. On average, analysts forecast that TC PipeLines, will post $3.26 EPS for the current year.
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Several equities research analysts have recently issued reports on TCP shares. UBS AG reaffirmed a “buy” rating and issued a $68.00 price target (up from $67.00) on shares of TC PipeLines, in a research report on Friday, May 5th. Barclays PLC reaffirmed a “sell” rating and issued a $57.00 price target on shares of TC PipeLines, in a research report on Friday. Zacks Investment Research raised TC PipeLines, from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. BidaskClub downgraded TC PipeLines, from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Finally, Wolfe Research started coverage on TC PipeLines, in a research report on Friday, May 12th. They issued a “market perform” rating and a $60.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $62.29.
TC PipeLines, Company Profile
TC PipeLines, LP is a master limited partnership. The Company 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. As of December 31, 2016, the Company had four pipelines and equity ownership interests in three natural gas interstate pipeline systems that are collectively designed to transport approximately 9.1 billion cubic feet per day of natural gas from producing regions and import facilities to market hubs and consuming markets primarily in the Western, Midwestern and Eastern United States.
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