Tc Pipelines Lp (NYSE:TRP) Receives Consensus Recommendation of “Hold” from Analysts

Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) has earned a consensus rating of “Hold” from the fourteen analysts that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $60.00.

Several equities research analysts recently commented on TRP shares. Zacks Investment Research cut shares of Tc Pipelines from a “buy” rating to a “hold” rating and set a $53.00 price objective on the stock. in a research report on Monday, July 8th. GMP Securities reaffirmed a “buy” rating and issued a $71.00 price objective on shares of Tc Pipelines in a research report on Tuesday, May 7th. Credit Suisse Group cut shares of Tc Pipelines from an “outperform” rating to a “neutral” rating in a research report on Wednesday, May 29th. ValuEngine cut shares of Tc Pipelines from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Scotiabank reaffirmed an “average” rating and issued a $72.00 price objective on shares of Tc Pipelines in a research report on Tuesday, May 28th.

Large investors have recently modified their holdings of the business. Cornerstone Advisors Inc. lifted its position in Tc Pipelines by 25.1% during the 2nd 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 bought a new stake in Tc Pipelines during the 2nd quarter worth about $87,000. Glassman Wealth Services bought a new stake in Tc Pipelines during the 2nd quarter worth about $139,000. First Manhattan Co. bought a new stake in Tc Pipelines during the 2nd quarter worth about $200,000. Finally, Roberts Glore & Co. Inc. IL bought a new stake in Tc Pipelines during the 2nd quarter worth about $212,000. 55.22% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE TRP traded down $0.28 during midday trading on Friday, reaching $48.41. 1,161,246 shares of the stock were exchanged, compared to its average volume of 1,409,319. The business has a 50-day simple moving average of $49.25 and a two-hundred day simple moving average of $47.29. The company has a market capitalization of $45.42 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 2.73 and a beta of 0.80. Tc Pipelines has a 12 month low of $34.58 and a 12 month high of $51.36. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.44 and a quick ratio of 0.40.

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 for the quarter, topping analysts’ consensus estimates of $0.75 by $0.25. The company had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Tc Pipelines had a net margin of 30.39% and a return on equity of 14.01%. During the same period last year, the firm posted $0.86 earnings per share. Equities research analysts expect that Tc Pipelines will post 3.09 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.568 dividend. This is a boost from Tc Pipelines’s previous quarterly dividend of $0.56. This represents a $2.27 annualized dividend and a yield of 4.69%. The ex-dividend date is Friday, September 27th. Tc Pipelines’s payout ratio is currently 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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Analyst Recommendations for Tc Pipelines (NYSE:TRP)

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