TC Pipelines (NYSE:TCP) issued its quarterly earnings data on Friday. The pipeline company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.07, MarketWatch Earnings reports. TC Pipelines had a return on equity of 26.67% and a net margin of 66.44%. The business had revenue of $103.00 million for the quarter.
NYSE:TCP traded up $0.79 during trading hours on Friday, hitting $30.71. 276,133 shares of the company traded hands, compared to its average volume of 278,648. The stock has a market cap of $2.14 billion, a PE ratio of 9.72 and a beta of 1.09. TC Pipelines has a one year low of $22.64 and a one year high of $57.08. The company has a current ratio of 1.33, a quick ratio of 1.23 and a debt-to-equity ratio of 1.97.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Friday, November 2nd will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 8.47%. The ex-dividend date is Thursday, November 1st. TC Pipelines’s dividend payout ratio (DPR) is presently 82.28%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Timber Hill LLC bought a new stake in shares of TC Pipelines during the 3rd quarter worth $398,000. Gould Asset Management LLC CA raised its stake in shares of TC Pipelines by 35.2% during the 3rd quarter. Gould Asset Management LLC CA now owns 12,585 shares of the pipeline company’s stock worth $382,000 after purchasing an additional 3,280 shares during the period. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of TC Pipelines during the 3rd quarter worth $1,001,000. Fort Washington Investment Advisors Inc. OH bought a new stake in shares of TC Pipelines during the 3rd quarter worth $3,640,000. Finally, Wells Fargo & Company MN raised its stake in shares of TC Pipelines by 45.4% during the 3rd quarter. Wells Fargo & Company MN now owns 81,875 shares of the pipeline company’s stock worth $2,483,000 after purchasing an additional 25,578 shares during the period. Institutional investors own 59.72% of the company’s stock.
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About TC Pipelines
TC PipeLines, LP acquires, owns, and participates in the management of energy infrastructure businesses in North America. The company has interests in eight natural gas interstate pipeline systems that transport approximately 10.4 billion cubic feet per day of natural gas from producing regions and import facilities to market hubs and consuming markets primarily in the Western, Midwestern, and Eastern United States.
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