TC Pipelines, LP (TCP) Trading 2.6% Higher
Shares of TC Pipelines, LP (NYSE:TCP) traded up 2.6% on Thursday . The company traded as high as $54.44 and last traded at $53.87, with a volume of 152,884 shares traded. The stock had previously closed at $52.49.
A number of analysts have recently weighed in on the stock. Royal Bank Of Canada upped their target price on shares of TC Pipelines, from $53.00 to $61.00 and gave the stock a “sector perform” rating in a research report on Monday, June 13th. Citigroup Inc. increased their price objective on shares of TC Pipelines, from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Zacks Investment Research downgraded shares of TC Pipelines, from a “hold” rating to a “sell” rating in a research report on Wednesday, July 20th. Goldman Sachs Group Inc. reissued a “neutral” rating and set a $53.00 price objective on shares of TC Pipelines, in a research report on Wednesday, July 20th. Finally, JPMorgan Chase & Co. increased their price objective on shares of TC Pipelines, from $53.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, May 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $54.88.
The stock’s 50 day moving average price is $54.08 and its 200 day moving average price is $52.17. The company has a market cap of $3.53 billion and a PE ratio of 101.04.
TC Pipelines, (NYSE:TCP) last announced its earnings results on Thursday, August 4th. The company reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.12. On average, analysts forecast that TC Pipelines, LP will post $3.15 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Monday, August 1st were paid 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 yield of 7.06%. The ex-dividend date was Thursday, July 28th.
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.
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