TC Pipelines, LP (NYSE:TCP) Expected to Post Quarterly Sales of $93.86 Million

Wall Street analysts expect that TC Pipelines, LP (NYSE:TCP) will post $93.86 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for TC Pipelines’ earnings. The highest sales estimate is $94.00 million and the lowest is $93.71 million. TC Pipelines posted sales of $93.00 million during the same quarter last year, which indicates a positive year over year growth rate of 0.9%. The business is expected to report its next quarterly earnings results on Thursday, November 5th.

On average, analysts expect that TC Pipelines will report full year sales of $391.82 million for the current year, with estimates ranging from $391.00 million to $392.63 million. For the next financial year, analysts anticipate that the firm will post sales of $380.34 million, with estimates ranging from $370.67 million to $390.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow TC Pipelines.

TC Pipelines (NYSE:TCP) last issued its quarterly earnings data on Wednesday, August 5th. The pipeline company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.03. TC Pipelines had a net margin of 70.48% and a return on equity of 36.30%. The company had revenue of $95.00 million during the quarter, compared to the consensus estimate of $107.83 million. During the same quarter last year, the company earned $0.75 earnings per share. TC Pipelines’s revenue for the quarter was up 2.2% on a year-over-year basis.

Several equities analysts have recently commented on TCP shares. Goldman Sachs Group upgraded TC Pipelines from a “sell” rating to a “neutral” rating and increased their target price for the company from $51.00 to $52.00 in a research note on Monday, July 6th. Citigroup reduced their target price on TC Pipelines from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, June 19th. Raymond James started coverage on TC Pipelines in a research note on Thursday, July 9th. They set a “market perform” rating for the company. US Capital Advisors started coverage on TC Pipelines in a research note on Friday, July 10th. They set an “overweight” rating for the company. Finally, Zacks Investment Research cut TC Pipelines from a “buy” rating to a “hold” rating and set a $35.00 price objective on the stock. in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $42.09.

NYSE:TCP traded down $0.21 during trading hours on Friday, hitting $27.78. The stock had a trading volume of 184,583 shares, compared to its average volume of 442,780. The company has a market cap of $1.98 billion, a PE ratio of 7.51 and a beta of 1.03. The company has a current ratio of 0.63, a quick ratio of 0.61 and a debt-to-equity ratio of 2.24. The business has a 50 day simple moving average of $31.34 and a two-hundred day simple moving average of $31.96. TC Pipelines has a 1-year low of $18.00 and a 1-year high of $44.65.

A number of hedge funds and other institutional investors have recently modified their holdings of TCP. Tower Research Capital LLC TRC acquired a new stake in TC Pipelines in the first quarter worth $71,000. Lindbrook Capital LLC increased its holdings in shares of TC Pipelines by 46.8% during the second quarter. Lindbrook Capital LLC now owns 3,232 shares of the pipeline company’s stock valued at $100,000 after purchasing an additional 1,030 shares during the period. Advisors Asset Management Inc. acquired a new position in shares of TC Pipelines during the second quarter valued at $104,000. Van ECK Associates Corp acquired a new position in shares of TC Pipelines during the first quarter valued at $114,000. Finally, Northwestern Mutual Investment Management Company LLC acquired a new position in shares of TC Pipelines during the first quarter valued at $180,000. 66.56% of the stock is currently owned by hedge funds and other institutional investors.

TC Pipelines Company Profile

TC Pipelines LP engages in nautral gas pipelines business. It transports natural gas in Western, Midwestern and Eastern United States. The firm is managed by its general partner TC Pipelines GP, Inc, which is an indirect, wholly-owned subsidiary of TransCanada. The company was founded in 1998 and is headquartered in Houston, TX.

Featured Article: How are dividend achievers different from dividend aristocrats?

Get a free copy of the Zacks research report on TC Pipelines (TCP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for TC Pipelines (NYSE:TCP)

Receive News & Ratings for TC Pipelines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TC Pipelines and related companies with MarketBeat.com's FREE daily email newsletter.