Tc Pipelines Lp (TSE:TRP) Receives Consensus Recommendation of “Buy” from Brokerages

Tc Pipelines Lp (TSE:TRP) (NYSE:TRP) has earned a consensus rating of “Buy” from the eleven research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is C$69.00.

A number of research analysts recently weighed in on TRP shares. GMP Securities dropped their price target on shares of Tc Pipelines from C$74.00 to C$73.00 in a research report on Wednesday, July 31st. Citigroup raised their price target on shares of Tc Pipelines from C$60.00 to C$73.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Royal Bank of Canada raised their price target on shares of Tc Pipelines from C$71.00 to C$75.00 and gave the company an “outperform” rating in a research report on Wednesday, May 29th. JPMorgan Chase & Co. raised their price target on shares of Tc Pipelines from C$72.00 to C$73.00 in a research report on Tuesday, May 7th. Finally, TD Securities raised their price target on shares of Tc Pipelines from C$74.00 to C$76.00 and gave the company a “buy” rating in a research report on Friday, August 2nd.

Shares of Tc Pipelines stock traded down C$0.27 during trading hours on Wednesday, reaching C$63.57. The company’s stock had a trading volume of 1,819,935 shares, compared to its average volume of 2,463,729. Tc Pipelines has a one year low of C$47.90 and a one year high of C$67.15. The stock has a market cap of $59.06 billion and a P/E ratio of 14.08. The business has a fifty day simple moving average of C$65.30. The company has a quick ratio of 0.21, a current ratio of 0.44 and a debt-to-equity ratio of 157.19.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 4.72%. The ex-dividend date is Friday, September 27th. Tc Pipelines’s dividend payout ratio is 63.79%.

About Tc Pipelines

TransCanada 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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Analyst Recommendations for Tc Pipelines (TSE:TRP)

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