Wall Street analysts expect that Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) will announce $0.74 earnings per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Tc Pipelines’ earnings, with the highest EPS estimate coming in at $0.77 and the lowest estimate coming in at $0.68. Tc Pipelines posted earnings of $0.76 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.6%. The firm is scheduled to report its next quarterly earnings report on Thursday, November 7th.
According to Zacks, 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 fiscal year, analysts expect that the company will post earnings of $3.10 per share, with EPS estimates ranging from $2.93 to $3.33. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Tc Pipelines.
Tc Pipelines (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, August 1st. The pipeline company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.25. Tc Pipelines had a net margin of 30.39% and a return on equity of 14.01%. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period last year, the firm earned $0.86 earnings per share.
A number of research analysts have weighed in on the stock. Scotiabank reaffirmed an “average” rating and issued a $72.00 price objective on shares of Tc Pipelines in a research note on Tuesday, May 28th. CIBC reaffirmed an “average” rating and issued a $70.00 price objective on shares of Tc Pipelines in a research note on Sunday, August 4th. Zacks Investment Research lowered 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 note on Monday, July 8th. Bank of America raised their price objective on shares of Tc Pipelines from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Credit Suisse Group lowered shares of Tc Pipelines from an “outperform” rating to a “neutral” rating in a research note on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.25.
Tc Pipelines stock opened at $49.89 on Tuesday. Tc Pipelines has a 1-year low of $34.58 and a 1-year high of $52.69. The firm has a market capitalization of $47.74 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 2.86 and a beta of 0.75. The firm’s fifty day moving average price is $49.35 and its two-hundred day moving average price is $48.06. The company has a current ratio of 0.44, a quick ratio of 0.40 and a debt-to-equity ratio of 1.53.
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. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.27 annualized dividend and a dividend yield of 4.55%. This is an increase from Tc Pipelines’s previous quarterly dividend of $0.56. Tc Pipelines’s dividend payout ratio is currently 53.69%.
Hedge funds have recently made changes to their positions in the company. Cornerstone Advisors Inc. raised its holdings in shares of Tc Pipelines by 25.1% in the second 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 shares of Tc Pipelines in the second quarter valued at about $87,000. Glassman Wealth Services purchased a new stake in shares of Tc Pipelines in the second quarter valued at about $139,000. First Manhattan Co. purchased a new stake in shares of Tc Pipelines in the second quarter valued at about $200,000. Finally, Roberts Glore & Co. Inc. IL purchased a new stake in shares of Tc Pipelines in the second quarter valued at about $212,000. Institutional investors own 58.87% of the company’s stock.
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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