TC Pipelines, LP (TCP) to Issue Quarterly Dividend of $1.00

TC Pipelines, LP (NYSE:TCP) declared a quarterly dividend on Wednesday, January 24th, Wall Street Journal reports. Shareholders of record on Friday, February 2nd will be given a dividend of 1.00 per share by the pipeline company on Tuesday, February 13th. This represents a $4.00 dividend on an annualized basis and a yield of 7.31%. The ex-dividend date is Thursday, February 1st.

TC Pipelines has raised its dividend payment by an average of 5.5% annually over the last three years and has increased its dividend annually for the last 8 consecutive years. TC Pipelines has a dividend payout ratio of 127.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect TC Pipelines to earn $3.17 per share next year, which means the company may not be able to cover its $4.00 annual dividend with an expected future payout ratio of 126.2%.

TC Pipelines (NYSE:TCP) opened at $54.72 on Wednesday. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.06 and a current ratio of 1.12. TC Pipelines has a 1 year low of $48.55 and a 1 year high of $65.03. The firm has a market cap of $3,890.27, a price-to-earnings ratio of 17.71, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96.

TC Pipelines (NYSE:TCP) last posted its quarterly earnings data on Monday, November 6th. The pipeline company reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.06). TC Pipelines had a net margin of 64.04% and a return on equity of 21.46%. The firm had revenue of $100.00 million for the quarter, compared to the consensus estimate of $126.78 million. equities research analysts expect that TC Pipelines will post 3.14 EPS for the current fiscal year.

An institutional investor recently raised its position in TC Pipelines stock. The Manufacturers Life Insurance Company lifted its stake in TC Pipelines, LP (NYSE:TCP) by 8.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,013 shares of the pipeline company’s stock after purchasing an additional 149 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in TC Pipelines were worth $111,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 61.02% of the company’s stock.

A number of research analysts have recently commented on the stock. Barclays restated a “sell” rating and issued a $55.00 price target on shares of TC Pipelines in a report on Friday, January 19th. Tudor Pickering assumed coverage on shares of TC Pipelines in a report on Friday, January 12th. They issued a “hold” rating and a $58.00 price target on the stock. Bank of America assumed coverage on shares of TC Pipelines in a report on Tuesday, January 9th. They issued a “neutral” rating on the stock. Zacks Investment Research upgraded shares of TC Pipelines from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Tuesday, October 17th. Finally, Wells Fargo & Co cut their price target on shares of TC Pipelines from $62.00 to $58.00 and set a “market perform” rating on the stock in a report on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. TC Pipelines has an average rating of “Hold” and an average target price of $59.75.

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TC Pipelines Company Profile

TC PipeLines, LP is a master limited partnership. The Company acquires, owns and participates in the management of energy infrastructure businesses in North America. The Company’s pipeline systems transport natural gas in the United States. As of December 31, 2016, the Company had four pipelines and equity ownership interests in three natural gas interstate pipeline systems that are collectively designed to transport approximately 9.1 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.

Dividend History for TC Pipelines (NYSE:TCP)

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