Analysts Expect TC Pipelines, LP (NYSE:TCP) Will Announce Earnings of $0.76 Per Share

Equities analysts expect TC Pipelines, LP (NYSE:TCP) to announce earnings of $0.76 per share for the current quarter, Zacks reports. Zero analysts have provided estimates for TC Pipelines’ earnings. TC Pipelines posted earnings per share of $1.06 during the same quarter last year, which suggests a negative year over year growth rate of 28.3%. The company is expected to issue its next quarterly earnings report on Thursday, February 20th.

On average, analysts expect that TC Pipelines will report full-year earnings of $3.52 per share for the current financial year, with EPS estimates ranging from $3.39 to $3.65. For the next year, analysts forecast that the business will report earnings of $3.59 per share, with EPS estimates ranging from $3.50 to $3.67. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for TC Pipelines.

TC Pipelines (NYSE:TCP) last announced its earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.73 by $0.03. The firm had revenue of $93.00 million for the quarter. TC Pipelines had a negative net margin of 40.46% and a positive return on equity of 40.25%.

Several brokerages have commented on TCP. Citigroup set a $40.00 target price on shares of TC Pipelines and gave the stock a “hold” rating in a report on Friday, November 1st. Barclays restated a “hold” rating and set a $44.00 target price on shares of TC Pipelines in a report on Wednesday, October 16th. Bank of America upgraded shares of TC Pipelines from an “underperform” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Friday, September 20th. Finally, UBS Group upgraded shares of TC Pipelines from a “neutral” rating to a “buy” rating and raised their target price for the stock from $39.00 to $44.00 in a report on Monday, November 4th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $41.86.

Hedge funds and other institutional investors have recently bought and sold shares of the company. North Star Investment Management Corp. acquired a new stake in shares of TC Pipelines in the third quarter valued at approximately $28,000. Venturi Wealth Management LLC acquired a new stake in shares of TC Pipelines in the third quarter valued at approximately $61,000. Tower Research Capital LLC TRC acquired a new stake in shares of TC Pipelines in the third quarter valued at approximately $66,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of TC Pipelines by 41.4% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,536 shares of the pipeline company’s stock valued at $132,000 after purchasing an additional 1,036 shares during the last quarter. Finally, Kavar Capital Partners LLC acquired a new stake in shares of TC Pipelines in the second quarter valued at approximately $157,000. Institutional investors own 64.08% of the company’s stock.

TCP stock traded up $0.61 during mid-day trading on Tuesday, hitting $39.40. 26,451 shares of the company were exchanged, compared to its average volume of 439,241. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.73 and a current ratio of 0.78. The firm has a market cap of $2.69 billion, a P/E ratio of 9.42, a P/E/G ratio of 5.36 and a beta of 0.66. The firm’s 50 day simple moving average is $39.06 and its 200 day simple moving average is $38.65. TC Pipelines has a 1-year low of $26.88 and a 1-year high of $42.11.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a $0.65 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.60%. TC Pipelines’s dividend payout ratio (DPR) is presently 62.20%.

TC Pipelines Company Profile

TC Pipelines LP engages in nautral gas pipelines business. It transports natural gas in Western, Midwestern and Eastern United States. The firm is managed by its general partner TC Pipelines GP, Inc, which is an indirect, wholly-owned subsidiary of TransCanada. The company was founded in 1998 and is headquartered in Houston, TX.

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