Shares of Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) have earned a consensus rating of “Hold” from the twelve analysts that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $54.50.
Several equities analysts recently issued reports on TRP shares. Zacks Investment Research upgraded Tc Pipelines from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Tuesday, April 2nd. GMP Securities reiterated a “buy” rating and issued a $69.00 price target on shares of Tc Pipelines in a report on Tuesday, April 30th. Evercore ISI started coverage on Tc Pipelines in a report on Tuesday, February 5th. They issued a $60.00 price target on the stock. Industrial Alliance Securities reiterated a “buy” rating on shares of Tc Pipelines in a report on Monday, April 8th. Finally, Macquarie started coverage on Tc Pipelines in a report on Thursday, January 24th. They issued a “neutral” rating on the stock.
A hedge fund recently bought a new stake in Tc Pipelines stock. C M Bidwell & Associates Ltd. bought a new position in shares of Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,005 shares of the pipeline company’s stock, valued at approximately $135,000. 63.96% of the stock is owned by hedge funds and other institutional investors.
Tc Pipelines stock traded up $0.56 during mid-day trading on Friday, hitting $48.71. 145,900 shares of the company were exchanged, compared to its average volume of 1,460,499. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.37 and a quick ratio of 0.34. Tc Pipelines has a 1-year low of $34.58 and a 1-year high of $48.65. The firm has a market capitalization of $44.50 billion, a P/E ratio of 16.34, a P/E/G ratio of 3.19 and a beta of 0.89.
Tc Pipelines (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, February 14th. The pipeline company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.70 by $0.33. The company had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Tc Pipelines had a return on equity of 13.72% and a net margin of 28.60%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.82 earnings per share. On average, equities research analysts predict that Tc Pipelines will post 2.99 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 4.60%. The ex-dividend date is Thursday, June 27th. Tc Pipelines’s dividend payout ratio is 75.17%.
About Tc Pipelines
TC Energy Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Energy segments. The company transports natural gas to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, and other businesses.
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