Brokerages Anticipate Tc Pipelines Lp (NYSE:TRP) to Announce $0.72 Earnings Per Share

Equities research analysts expect Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) to post $0.72 earnings per share for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Tc Pipelines’ earnings. The highest EPS estimate is $0.77 and the lowest is $0.68. Tc Pipelines posted earnings per share of $0.76 in the same quarter last year, which indicates a negative year-over-year growth rate of 5.3%. The company is expected to report its next earnings report on Thursday, November 7th.

On average, analysts expect that Tc Pipelines will report full year earnings of $3.09 per share for the current financial year, with EPS estimates ranging from $2.97 to $3.29. For the next financial year, analysts forecast that the firm will report earnings of $3.08 per share, with EPS estimates ranging from $2.93 to $3.33. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Tc Pipelines.

Tc Pipelines (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, August 1st. The pipeline company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.25. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $3.55 billion. Tc Pipelines had a return on equity of 14.01% and a net margin of 30.39%. During the same period in the previous year, the business earned $0.86 EPS.

A number of analysts have issued reports on the company. CIBC reaffirmed an “average” rating and set a $70.00 price target on shares of Tc Pipelines in a report on Sunday, August 4th. Credit Suisse Group downgraded Tc Pipelines from an “outperform” rating to a “neutral” rating in a report on Wednesday, May 29th. Scotiabank reaffirmed an “average” rating and set a $72.00 price target on shares of Tc Pipelines in a report on Tuesday, May 28th. 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. Finally, Bank of America lifted their price target on Tc Pipelines from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $57.25.

NYSE TRP traded up $0.64 during trading on Friday, reaching $48.40. 714,000 shares of the company’s stock were exchanged, compared to its average volume of 1,477,117. The stock has a market cap of $44.36 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.40 and a current ratio of 0.44. The company has a 50 day moving average price of $49.42 and a two-hundred day moving average price of $47.15. Tc Pipelines has a 1 year low of $34.58 and a 1 year high of $51.36.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.568 dividend. This is an increase from Tc Pipelines’s previous quarterly dividend of $0.56. This represents a $2.27 annualized dividend and a dividend yield of 4.69%. The ex-dividend date is Friday, September 27th. Tc Pipelines’s payout ratio is presently 75.17%.

Several institutional investors have recently bought and sold shares of TRP. Cornerstone Advisors Inc. lifted its holdings in shares of Tc Pipelines by 25.1% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,078 shares of the pipeline company’s stock valued at $53,000 after purchasing an additional 216 shares during the last quarter. AGF Investments LLC purchased a new stake in Tc Pipelines during the 2nd quarter valued at approximately $87,000. Glassman Wealth Services purchased a new stake in Tc Pipelines during the 2nd quarter valued at approximately $139,000. First Manhattan Co. purchased a new stake in Tc Pipelines during the 2nd quarter valued at approximately $200,000. Finally, Roberts Glore & Co. Inc. IL purchased a new stake in Tc Pipelines during the 2nd quarter valued at approximately $212,000. 54.13% of the stock is owned by institutional investors and hedge funds.

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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