TC Pipelines, LP (TCP) Sees Unusually-High Trading Volume
TC Pipelines, LP (NYSE:TCP) saw strong trading volume on Tuesday . 188,448 shares changed hands during trading, an increase of 13% from the previous session’s volume of 166,194 shares.The stock last traded at $52.89 and had previously closed at $53.34.
A number of research analysts have issued reports on TCP shares. Zacks Investment Research upgraded shares of TC Pipelines, from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Monday, August 22nd. TheStreet lowered shares of TC Pipelines, from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Citigroup Inc. upped their price target on shares of TC Pipelines, from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Goldman Sachs Group Inc. restated a “neutral” rating and set a $53.00 price target on shares of TC Pipelines, in a research note on Wednesday, July 20th. Finally, Barclays PLC lowered shares of TC Pipelines, from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $53.00 to $49.00 in a research note on Monday, June 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. TC Pipelines, currently has an average rating of “Hold” and an average price target of $54.88.
The firm has a 50 day moving average price of $54.05 and a 200-day moving average price of $52.67. The firm has a market cap of $3.42 billion and a PE ratio of 159.218.
TC Pipelines, (NYSE:TCP) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.12. Equities research analysts forecast that TC Pipelines, LP will post $3.15 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Monday, August 1st were given a dividend of $0.94 per share. The ex-dividend date was Thursday, July 28th. This represents a $3.76 annualized dividend and a dividend yield of 7.16%. This is a positive change from TC Pipelines,’s previous quarterly dividend of $0.89.
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 has approximately four pipelines and equity ownership interests in over three natural gas interstate pipeline systems that are collectively designed to transport natural gas from producing regions and import facilities to market hubs, and consuming markets primarily in the Western, Midwestern and Eastern United States.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.