TC Pipelines (NYSE:TCP) announced its quarterly earnings results on Thursday. The pipeline company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03, Fidelity Earnings reports. TC Pipelines had a positive return on equity of 35.63% and a negative net margin of 38.56%. The company had revenue of $93.00 million during the quarter.
Shares of TC Pipelines stock traded down $0.59 during trading on Friday, reaching $39.48. The company’s stock had a trading volume of 286,074 shares, compared to its average volume of 205,947. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.56 and a current ratio of 0.63. The business’s fifty day moving average price is $39.50 and its 200-day moving average price is $38.20. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 9.44, a price-to-earnings-growth ratio of 5.60 and a beta of 0.71. TC Pipelines has a one year low of $26.88 and a one year high of $42.11.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be paid a $0.65 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.59%. TC Pipelines’s payout ratio is presently 62.20%.
A number of analysts have weighed in on the company. ValuEngine cut TC Pipelines from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Zacks Investment Research raised TC Pipelines from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Tuesday, July 16th. UBS Group upgraded TC Pipelines from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $39.00 to $44.00 in a research note on Monday, November 4th. Bank of America upgraded TC Pipelines from an “underperform” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Friday, September 20th. Finally, Barclays reiterated a “hold” rating and issued a $44.00 price objective on shares of TC Pipelines in a research note on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $41.86.
About TC Pipelines
TC Pipelines LP engages in nautral gas pipelines business. It transports natural gas in Western, Midwestern and Eastern United States. The firm is managed by its general partner TC Pipelines GP, Inc, which is an indirect, wholly-owned subsidiary of TransCanada. The company was founded in 1998 and is headquartered in Houston, TX.
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