TC Pipelines (NYSE:TCP) posted its quarterly earnings data on Friday. The pipeline company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01), Bloomberg Earnings reports. TC Pipelines had a net margin of 64.04% and a return on equity of 21.46%. The firm had revenue of $109.00 million during the quarter, compared to analysts’ expectations of $137.19 million.
Shares of TC Pipelines (NYSE TCP) opened at $48.90 on Friday. The company has a market cap of $3,417.18, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 2.58 and a beta of 0.89. TC Pipelines has a 1 year low of $48.54 and a 1 year high of $65.03. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.06 and a current ratio of 1.12.
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 13th. Shareholders of record on Friday, February 2nd were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $4.00 annualized dividend and a dividend yield of 8.18%. TC Pipelines’s payout ratio is currently 126.58%.
A number of equities analysts recently weighed in on TCP shares. Citigroup upgraded shares of TC Pipelines from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Friday, December 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 price objective (down from $72.00) on shares of TC Pipelines in a research report on Thursday, November 9th. UBS Group lowered their price objective on shares of TC Pipelines from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, November 7th. Wells Fargo & Co lowered their price objective on shares of TC Pipelines from $62.00 to $58.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 15th. Finally, Barclays reiterated a “sell” rating and issued a $55.00 price objective on shares of TC Pipelines in a research report on Friday, January 19th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $59.75.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Green Square Capital LLC purchased a new stake in shares of TC Pipelines during the 4th quarter worth $2,411,000. Brookfield Asset Management Inc. purchased a new stake in shares of TC Pipelines during the 4th quarter worth $147,413,000. Glenmede Trust Co. NA boosted its position in shares of TC Pipelines by 44.5% during the 4th quarter. Glenmede Trust Co. NA now owns 39,763 shares of the pipeline company’s stock worth $2,111,000 after purchasing an additional 12,253 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of TC Pipelines during the 4th quarter worth $727,000. Finally, LPL Financial LLC boosted its position in shares of TC Pipelines by 12.4% during the 4th quarter. LPL Financial LLC now owns 37,492 shares of the pipeline company’s stock worth $1,991,000 after purchasing an additional 4,129 shares in the last quarter. Institutional investors own 62.29% of the company’s stock.
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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