Tc Pipelines (TRP) Stock Rating Reaffirmed by GMP Securities

GMP Securities restated their average rating on shares of Tc Pipelines (NYSE:TRP) (TSE:TRP) in a research report sent to investors on Monday morning. The firm currently has a $66.00 target price on the pipeline company’s stock.

A number of other research firms also recently weighed in on TRP. Zacks Investment Research downgraded Tc Pipelines from a buy rating to a hold rating in a report on Friday, July 27th. CIBC restated a buy rating on shares of Tc Pipelines in a report on Monday, November 12th. Goldman Sachs Group initiated coverage on Tc Pipelines in a report on Monday, October 8th. They issued a neutral rating and a $38.00 price objective for the company. Deutsche Bank increased their price objective on Tc Pipelines from $57.00 to $59.00 and gave the company a buy rating in a report on Wednesday, August 15th. Finally, Morgan Stanley set a $28.00 price objective on Tc Pipelines and gave the company a sell rating in a report on Friday, September 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Tc Pipelines currently has an average rating of Hold and an average target price of $50.67.

NYSE TRP opened at $40.75 on Monday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.47 and a quick ratio of 0.43. Tc Pipelines has a fifty-two week low of $37.24 and a fifty-two week high of $50.54. The firm has a market cap of $36.96 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 1.60 and a beta of 0.59.

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, beating the Zacks’ consensus estimate of $0.59 by $0.41. The company had revenue of $3.16 billion during the quarter. Tc Pipelines had a return on equity of 13.43% and a net margin of 25.58%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.70 earnings per share. As a group, analysts predict that Tc Pipelines will post 2.82 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Monday, December 31st will be given a dividend of $0.524 per share. The ex-dividend date is Friday, December 28th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.14%. Tc Pipelines’s dividend payout ratio (DPR) is presently 89.50%.

Hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board boosted its position in shares of Tc Pipelines by 4.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 277,452 shares of the pipeline company’s stock worth $11,994,000 after purchasing an additional 11,300 shares in the last quarter. FDx Advisors Inc. boosted its position in shares of Tc Pipelines by 36.1% during the 2nd quarter. FDx Advisors Inc. now owns 9,338 shares of the pipeline company’s stock worth $403,000 after purchasing an additional 2,475 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Tc Pipelines by 88.3% during 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 in the last quarter. Salem Investment Counselors Inc. boosted its position in shares of Tc Pipelines by 3.6% during the 2nd quarter. Salem Investment Counselors Inc. now owns 47,150 shares of the pipeline company’s stock worth $2,037,000 after purchasing an additional 1,650 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Tc Pipelines by 328.6% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 6,000 shares of the pipeline company’s stock worth $259,000 after purchasing an additional 4,600 shares in the last quarter. 60.46% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Tc Pipelines (NYSE:TRP)

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