Tc Pipelines Lp (TRP) Receives $48.25 Consensus PT from Brokerages

Shares of Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) have received a consensus recommendation of “Hold” from the thirteen research firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $48.25.

Several equities analysts have commented on the company. UBS Group assumed coverage on Tc Pipelines in a research report on Thursday, October 4th. They set a “neutral” rating for the company. Morgan Stanley set a $28.00 price objective on Tc Pipelines and gave the company a “sell” rating in a research report on Friday, September 14th. Deutsche Bank raised their price objective on Tc Pipelines from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday, August 15th. Goldman Sachs Group assumed coverage on Tc Pipelines in a research report on Monday, October 8th. They set a “neutral” rating and a $38.00 price objective for the company. Finally, Zacks Investment Research lowered Tc Pipelines from a “buy” rating to a “hold” rating in a research report on Friday, July 27th.

NYSE:TRP opened at $37.72 on Monday. The firm has a market capitalization of $34.75 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.76 and a beta of 0.55. Tc Pipelines has a twelve month low of $37.24 and a twelve month high of $51.07. The company has a current ratio of 0.52, a quick ratio of 0.48 and a debt-to-equity ratio of 1.65.

Tc Pipelines (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, August 2nd. The pipeline company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.28. The business had revenue of $2.48 billion for the quarter. Tc Pipelines had a net margin of 23.37% and a return on equity of 12.90%. The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 EPS. As a group, analysts predict that Tc Pipelines will post 2.61 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in TRP. Clal Insurance Enterprises Holdings Ltd lifted its position in Tc Pipelines by 328.6% during the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 6,000 shares of the pipeline company’s stock valued at $259,000 after buying an additional 4,600 shares during the period. Icon Wealth Partners LLC raised its position in shares of Tc Pipelines by 42.5% in the 2nd quarter. Icon Wealth Partners LLC now owns 6,865 shares of the pipeline company’s stock worth $297,000 after purchasing an additional 2,047 shares during the last quarter. Archford Capital Strategies LLC purchased a new position in shares of Tc Pipelines in the 2nd quarter worth about $307,000. FDx Advisors Inc. raised its position in shares of Tc Pipelines by 36.1% in 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 during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Tc Pipelines by 88.3% in 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 during the last quarter. 60.43% of the stock is owned by institutional investors and hedge funds.

Tc Pipelines Company Profile

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.

Further Reading: Preferred Stock

Analyst Recommendations for Tc Pipelines (NYSE:TRP)

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