TC Pipelines, LP (TCP) Sees Unusually-High Trading Volume
TC Pipelines, LP (NYSE:TCP) shares saw unusually-high trading volume on Tuesday . Approximately 188,448 shares changed hands during mid-day 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.
TCP has been the topic of several research analyst reports. Ladenburg Thalmann cut shares of TC Pipelines, from a “buy” rating to a “neutral” rating and raised their target price for the stock from $52.00 to $54.00 in a research report on Friday, May 6th. Zacks Investment Research raised shares of TC Pipelines, from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Wednesday, May 11th. JPMorgan Chase & Co. raised their target price on shares of TC Pipelines, from $53.00 to $55.00 and gave the stock a “neutral” rating in a research report on Friday, May 27th. Royal Bank Of Canada raised 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. Finally, Barclays PLC cut shares of TC Pipelines, from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $53.00 to $49.00 in a research report on Monday, June 20th. Two equities 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, presently has a consensus rating of “Hold” and a consensus target price of $54.88.
The stock’s 50 day moving average price is $54.11 and its 200-day moving average price is $52.67. The stock has a market cap of $3.48 billion and a P/E ratio of 162.02.
TC Pipelines, (NYSE:TCP) last announced its 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 announced a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Monday, August 1st were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Thursday, July 28th. This is a positive change from TC Pipelines,’s previous quarterly dividend of $0.89. This represents a $3.76 dividend on an annualized basis and a yield of 7.12%.
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.