Tc Pipelines (NYSE:TRP) Releases Earnings Results, Beats Expectations By $0.25 EPS

Tc Pipelines (NYSE:TRP) (TSE:TRP) posted its earnings results on Thursday. The pipeline company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.25, reports. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Tc Pipelines had a net margin of 29.37% and a return on equity of 14.12%. During the same quarter last year, the company posted $1.03 EPS.

TRP stock traded up $0.61 during mid-day trading on Friday, hitting $56.22. The stock had a trading volume of 94,403 shares, compared to its average volume of 1,493,788. The company has a current ratio of 0.75, a quick ratio of 0.71 and a debt-to-equity ratio of 1.60. Tc Pipelines has a 52 week low of $41.86 and a 52 week high of $55.78. The firm has a market capitalization of $51.85 billion, a P/E ratio of 17.41, a P/E/G ratio of 3.30 and a beta of 0.73. The firm has a fifty day simple moving average of $54.09 and a 200 day simple moving average of $51.48.

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a $0.612 dividend. This is a positive change from Tc Pipelines’s previous quarterly dividend of $0.57. This represents a $2.45 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend is Monday, March 30th. Tc Pipelines’s dividend payout ratio (DPR) is currently 77.52%.

A number of research firms have recently issued reports on TRP. UBS Group raised their target price on shares of Tc Pipelines from $66.00 to $71.00 and gave the stock a “neutral” rating in a research note on Friday. Morgan Stanley assumed coverage on shares of Tc Pipelines in a research note on Monday, January 6th. They issued an “underweight” rating and a $63.00 price objective for the company. Bank of America assumed coverage on shares of Tc Pipelines in a research note on Wednesday, December 18th. They issued a “neutral” rating and a $56.00 price objective for the company. ValuEngine cut shares of Tc Pipelines from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. Finally, Evercore ISI reiterated a “hold” rating and issued a $60.00 price objective on shares of Tc Pipelines in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $65.44.

Tc Pipelines Company Profile

TC Energy 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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Earnings History for Tc Pipelines (NYSE:TRP)

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