Goldman Sachs Group lowered shares of Tc Pipelines (NYSE:TRP) (TSE:TRP) from a neutral rating to a sell rating in a research note released on Thursday, January 3rd, MarketBeat Ratings reports.
Other analysts also recently issued reports about the company. ValuEngine downgraded Tc Pipelines from a hold rating to a sell rating in a report on Friday, December 28th. Zacks Investment Research raised shares of Tc Pipelines from a hold rating to a buy rating and set a $45.00 price objective for the company in a research report on Monday, November 19th. GMP Securities reissued an average rating and issued a $66.00 price objective on shares of Tc Pipelines in a research report on Monday, November 19th. CIBC reissued a buy rating on shares of Tc Pipelines in a research report on Monday, November 12th. Finally, UBS Group began coverage on shares of Tc Pipelines in a research report on Thursday, October 4th. They issued a neutral rating for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $50.50.
Shares of TRP stock opened at $40.62 on Thursday. The stock has a market capitalization of $36.69 billion, a P/E ratio of 17.07, a P/E/G ratio of 1.78 and a beta of 0.71. Tc Pipelines has a 52-week low of $34.58 and a 52-week high of $48.49. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.43 and a current ratio of 0.47.
Tc Pipelines (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, November 1st. The pipeline company reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.41. The business had revenue of $3.16 billion for the quarter. Tc Pipelines had a return on equity of 13.43% and a net margin of 25.58%. Tc Pipelines’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the firm earned $0.70 EPS. As a group, equities research analysts forecast that Tc Pipelines will post 2.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Monday, December 31st will be paid a $0.524 dividend. The ex-dividend date of this dividend is Friday, December 28th. This represents a $2.10 annualized dividend and a dividend yield of 5.16%. Tc Pipelines’s payout ratio is currently 84.87%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Salem Investment Counselors Inc. grew its position in Tc Pipelines by 3.6% in the second quarter. Salem Investment Counselors Inc. now owns 47,150 shares of the pipeline company’s stock worth $2,037,000 after buying an additional 1,650 shares during the last quarter. SG Americas Securities LLC boosted its stake in Tc Pipelines by 88.3% in the 2nd quarter. SG Americas Securities LLC now owns 16,979 shares of the pipeline company’s stock worth $733,000 after purchasing an additional 7,961 shares during the period. Archford Capital Strategies LLC acquired a new position in Tc Pipelines in the 2nd quarter worth approximately $307,000. Finally, Icon Wealth Partners LLC boosted its stake in Tc Pipelines by 42.5% in the 2nd quarter. Icon Wealth Partners LLC now owns 6,865 shares of the pipeline company’s stock worth $297,000 after purchasing an additional 2,047 shares during the period. Institutional investors and hedge funds own 61.81% of the company’s stock.
About Tc Pipelines
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 and individual facilities, interconnecting pipelines, and other businesses.
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