Tudor Pickering Reiterates “Buy” Rating for Tc Pipelines (TSE:TRP)

Tudor Pickering reissued their buy rating on shares of Tc Pipelines (TSE:TRP) (NYSE:TRP) in a research report report published on Wednesday, Stock Target Advisor reports. They currently have a C$71.00 price target on the stock.

A number of other research analysts also recently issued reports on TRP. Scotiabank boosted their target price on shares of Tc Pipelines from C$72.00 to C$73.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Tc Pipelines from C$77.00 to C$78.00 in a report on Monday, November 25th. National Bank Financial lifted their price objective on shares of Tc Pipelines from C$66.00 to C$67.00 and gave the company a sector perform rating in a report on Monday, November 4th. Wells Fargo & Co lifted their price objective on shares of Tc Pipelines from C$74.00 to C$75.00 in a report on Tuesday, January 7th. Finally, Tudor Pickering & Holt set a C$71.00 price objective on shares of Tc Pipelines and gave the company a buy rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Tc Pipelines presently has a consensus rating of Buy and a consensus price target of C$72.92.

TSE TRP traded up C$0.33 on Wednesday, reaching C$70.05. 627,311 shares of the company’s stock traded hands, compared to its average volume of 1,971,018. The firm has a market cap of $65.04 billion and a price-to-earnings ratio of 16.35. The stock has a 50 day moving average price of C$68.47 and a 200-day moving average price of C$66.97. Tc Pipelines has a fifty-two week low of C$54.30 and a fifty-two week high of C$70.64. The company has a debt-to-equity ratio of 157.30, a quick ratio of 0.43 and a current ratio of 0.75.

Tc Pipelines (TSE:TRP) (NYSE:TRP) last posted its earnings results on Friday, November 1st. The company reported C$1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.99 by C$0.05. The business had revenue of C$3.13 billion for the quarter. As a group, equities research analysts anticipate that Tc Pipelines will post 3.9557256 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.75 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $3.00 dividend on an annualized basis and a yield of 4.28%. Tc Pipelines’s payout ratio is 68.63%.

Tc Pipelines Company Profile

TransCanada 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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Analyst Recommendations for Tc Pipelines (TSE:TRP)

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