Shares of Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) have been assigned a consensus rating of “Hold” from the fourteen ratings firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $57.17.
TRP has been the topic of several recent analyst reports. Credit Suisse Group set a €80.00 ($93.02) price target on shares of Siltronic and gave the company a “neutral” rating in a report on Wednesday, May 29th. Industrial Alliance Securities reiterated a “buy” rating on shares of Tc Pipelines in a report on Monday, April 8th. Scotiabank reiterated an “average” rating and issued a $72.00 price target on shares of Tc Pipelines in a report on Tuesday, May 28th. Zacks Investment Research upgraded shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Monday, July 8th. Finally, GMP Securities reiterated a “hold” rating and issued a $48.00 price target on shares of Suncor Energy in a report on Tuesday, May 7th.
Several hedge funds have recently made changes to their positions in TRP. Sheets Smith Wealth Management bought a new stake in shares of Tc Pipelines during the 2nd quarter valued at $246,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Tc Pipelines during the 2nd quarter valued at $556,000. Exane Derivatives boosted its holdings in shares of Tc Pipelines by 58.6% during the 2nd quarter. Exane Derivatives now owns 12,718 shares of the pipeline company’s stock valued at $631,000 after buying an additional 4,700 shares in the last quarter. Foundations Investment Advisors LLC boosted its holdings in shares of Tc Pipelines by 23.4% during the 2nd quarter. Foundations Investment Advisors LLC now owns 25,755 shares of the pipeline company’s stock valued at $1,295,000 after buying an additional 4,890 shares in the last quarter. Finally, Nexus Investment Management Inc. boosted its holdings in shares of Tc Pipelines by 0.9% during the 2nd quarter. Nexus Investment Management Inc. now owns 409,801 shares of the pipeline company’s stock valued at $20,315,000 after buying an additional 3,510 shares in the last quarter. Hedge funds and other institutional investors own 57.09% of the company’s stock.
Tc Pipelines (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.04. The business had revenue of $2.62 billion for the quarter. Tc Pipelines had a net margin of 28.60% and a return on equity of 13.72%. On average, sell-side analysts forecast that Tc Pipelines will post 3 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date is Thursday, June 27th. Tc Pipelines’s dividend payout ratio (DPR) is presently 76.85%.
About Tc Pipelines
TC Energy Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Energy segments. The company transports natural gas to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, and other businesses.
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