TC Pipelines, LP (TCP) Trading Up 4.3%
TC Pipelines, LP (NYSE:TCP)’s share price was up 4.3% during mid-day trading on Friday . The stock traded as high as $55.80 and last traded at $55.69, with a volume of 133,064 shares changing hands. The stock had previously closed at $53.39.
Several equities analysts recently issued reports on TCP shares. Barclays PLC downgraded shares of TC Pipelines, from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $53.00 to $49.00 in a research note on Monday, June 20th. Citigroup Inc. increased their price target on shares of TC Pipelines, from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday. Zacks Investment Research raised shares of TC Pipelines, from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Wednesday, May 11th. Royal Bank Of Canada increased their price target on shares of TC Pipelines, from $53.00 to $61.00 and gave the stock a “sector perform” rating in a research note on Monday, June 13th. Finally, Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $53.00 price target on shares of TC Pipelines, in a research note on Wednesday, July 20th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. TC Pipelines, presently has an average rating of “Hold” and a consensus target price of $54.75.
The stock has a 50 day moving average of $55.46 and a 200-day moving average of $50.67. The firm has a market capitalization of $3.71 billion and a P/E ratio of 143.53.
TC Pipelines, (NYSE:TCP) last announced its quarterly earnings data 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, equities research analysts forecast 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. Stockholders of record on Monday, August 1st will be given a $0.94 dividend. This is an increase from TC Pipelines,’s previous quarterly dividend of $0.89. This represents a $3.76 annualized dividend and a dividend yield of 6.75%. 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. The institutional investor owned 138,000 shares of the company’s stock after buying an additional 90,751 shares during the period. Bank of Montreal Can owned 0.21% of TC Pipelines, worth $6,860,000 as of its most recent SEC filing.
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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