Tc Pipelines (NYSE:TRP) Issues Quarterly Earnings Results

Tc Pipelines (NYSE:TRP) (TSE:TRP) announced its quarterly earnings results on Thursday. The pipeline company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.25, Briefing.com reports. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $3.55 billion. Tc Pipelines had a return on equity of 13.72% and a net margin of 28.60%. During the same period in the prior year, the company posted $0.86 earnings per share.

Tc Pipelines stock traded down $0.48 during mid-day trading on Friday, reaching $48.59. 2,062,155 shares of the stock traded hands, compared to its average volume of 1,377,999. The firm has a market capitalization of $45.64 billion, a PE ratio of 16.31, a PEG ratio of 3.25 and a beta of 0.79. The company has a quick ratio of 0.34, a current ratio of 0.37 and a debt-to-equity ratio of 1.58. Tc Pipelines has a 12-month low of $34.58 and a 12-month high of $51.36. The firm’s 50-day simple moving average is $49.75.

A number of institutional investors have recently bought and sold shares of TRP. Cornerstone Advisors Inc. increased its position in Tc Pipelines by 25.1% in the second quarter. Cornerstone Advisors Inc. now owns 1,078 shares of the pipeline company’s stock worth $53,000 after buying an additional 216 shares in the last quarter. AGF Investments LLC purchased a new stake in shares of Tc Pipelines during the second quarter worth about $87,000. Landmark Bank purchased a new stake in shares of Tc Pipelines during the second quarter worth about $228,000. Sheets Smith Wealth Management purchased a new stake in shares of Tc Pipelines during the second quarter worth about $246,000. Finally, Advisor Group Inc. grew its position in shares of Tc Pipelines by 23.0% during the second quarter. Advisor Group Inc. now owns 7,092 shares of the pipeline company’s stock worth $351,000 after purchasing an additional 1,327 shares in the last quarter. Institutional investors own 57.07% of the company’s stock.

A number of research analysts have recently issued reports on TRP shares. GMP Securities reaffirmed a “buy” rating and set a $71.00 price target on shares of Tc Pipelines in a report on Tuesday, May 7th. Credit Suisse Group downgraded Tc Pipelines from an “outperform” rating to a “neutral” rating in a report on Wednesday, May 29th. Bank of America upped their price target on Tc Pipelines from $64.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday. Scotiabank reaffirmed an “average” rating and set a $72.00 price target on shares of Tc Pipelines in a report on Tuesday, May 28th. Finally, Zacks Investment Research downgraded Tc Pipelines from a “buy” rating to a “hold” rating and set a $53.00 price target on the stock. in a report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $55.88.

Tc Pipelines Company Profile

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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Earnings History for Tc Pipelines (NYSE:TRP)

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