TC Pipelines, LP (TCP) Stock Price Up 2.6%
Shares of TC Pipelines, LP (NYSE:TCP) rose 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 trading hands. The stock had previously closed at $52.49.
TCP has been the topic of a number of analyst reports. Ladenburg Thalmann cut TC Pipelines, from a “buy” rating to a “neutral” rating and raised their price target for the company from $52.00 to $54.00 in a research note on Friday, May 6th. Zacks Investment Research upgraded 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. JPMorgan Chase & Co. raised their price target on TC Pipelines, from $53.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, May 27th. Royal Bank Of Canada raised their price target 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. Finally, Barclays PLC cut 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 investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $54.88.
The company has a market cap of $3.51 billion and a PE ratio of 163.50. The stock has a 50-day moving average price of $54.07 and a 200-day moving average price of $52.26.
TC Pipelines, (NYSE:TCP) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.12. On average, equities research analysts expect that TC Pipelines, LP will post $3.15 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Monday, August 1st were given a dividend of $0.94 per share. The ex-dividend date was Thursday, July 28th. This is a boost from TC Pipelines,’s previous quarterly dividend of $0.89. This represents a $3.76 dividend on an annualized basis and a yield of 7.05%.
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.