TC Pipelines, LP (TCP) Sees Large Volume Increase
TC Pipelines, LP (NYSE:TCP) saw unusually-high trading volume on Tuesday . Approximately 283,223 shares traded hands during mid-day trading, an increase of 31% from the previous session’s volume of 216,266 shares.The stock last traded at $52.55 and had previously closed at $54.07.
TCP has been the topic of several analyst reports. Citigroup Inc. lifted their target price on TC Pipelines, from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Zacks Investment Research lowered TC Pipelines, from a “buy” rating to a “hold” rating in a research note on Tuesday, June 21st. Royal Bank Of Canada lifted their target price on TC Pipelines, from $53.00 to $61.00 and gave the company a “sector perform” rating in a research note on Monday, June 13th. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $53.00 target price on shares of TC Pipelines, in a research note on Wednesday, July 20th. Finally, JPMorgan Chase & Co. lifted their target price on TC Pipelines, from $53.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, May 27th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. TC Pipelines, presently has a consensus rating of “Hold” and a consensus target price of $54.75.
The stock has a market capitalization of $3.55 billion and a PE ratio of 137.22. The company has a 50 day moving average price of $55.31 and a 200-day moving average price of $50.94.
TC Pipelines, (NYSE:TCP) last posted its earnings results on Wednesday, May 4th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.19. On average, analysts expect that TC Pipelines, LP will post $3.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Monday, August 1st will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 7.06%. This is a boost from TC Pipelines,’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Thursday, July 28th.
An institutional investor recently raised its position in TC Pipelines, stock. Bank of Montreal Can boosted its stake in TC Pipelines, LP (NYSE:TCP) by 192.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,000 shares of the company’s stock after buying an additional 90,751 shares during the period. Bank of Montreal Can owned approximately 0.21% of TC Pipelines, worth $6,860,000 as of its most recent filing with the SEC.
TC PipeLines, LP is a limited partnership company that acquires, owns and participates in the management of energy infrastructure businesses in North America. The company’s pipeline systems transport natural gas in the United States. The company is managed by its General Partner, which is an indirect wholly owned subsidiary of TransCanada.
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