Recent Research Analysts’ Ratings Changes for Tc Pipelines (TRP)

A number of research firms have changed their ratings and price targets for Tc Pipelines (NYSE: TRP):

  • 1/11/2019 – Tc Pipelines was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “TransCanada is a predominantly natural gas pipeline operator with operations spanning Canada, the United States and Mexico. Its portfolio includes around C$36 billion of accretive growth projects to be placed into service through 2023. Of this, projects worth approximately C$10 billion are expected to come online by early 2019. Moreover, TransCanada's dividend appears to be highly secure, largely due to the stable cash flow that the company's long-term contracts provide. However, extensive delays and cost overruns on various projects are expected to take a toll on TransCanada’s financial strength. Moreover, the massive debt load of the company restricts its financial flexibility and limits growth. Therefore, the stock warrants a cautious stance. “
  • 1/10/2019 – Tc Pipelines was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $44.00 price target on the stock. According to Zacks, “Taking into account the number of tailwinds, TransCanada Corporation's rating is upgraded to a 'Buy’. Over the past few quarters, TransCanada's operational and financial results have been meeting or exceeding expectations on the back of strength in its expansion projects in U.S. gas pipelines and liquids segments. TRP is a predominantly natural gas pipeline operator with operations spanning Canada, the United States and Mexico. A quality stock with industry leading wide moat assets, it has a secured portfolio of C$36 billion in growth projects. This should support the company’s stated dividend growth commitment of 8-10% annually out to 2021. Underpinned by long-term contracts, TransCanada’s low risk,recession-proof business model offers investors rock-solid revenue and cash flow stability. Consequently, TRP is viewed as a preferred midstream play to own now.”
  • 1/9/2019 – Tc Pipelines was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 1/7/2019 – Tc Pipelines was downgraded by analysts at Wolfe Research from an “outperform” rating to a “market perform” rating.
  • 1/5/2019 – Tc Pipelines was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “TransCanada is a predominantly natural gas pipeline operator with operations spanning Canada, the United States and Mexico. Its portfolio includes around C$36 billion of accretive growth projects to be placed into service through 2023. Of this, projects worth approximately C$10 billion are expected to come online by early 2019. Moreover, TransCanada's dividend appears to be highly secure, largely due to the stable cash flow that the company's long-term contracts provide. However, extensive delays and cost overruns on various projects are expected to take a toll on TransCanada’s financial strength. Moreover, the massive debt load of the company restricts its financial flexibility and limits growth. Therefore, the stock warrants a cautious stance.”
  • 1/3/2019 – Tc Pipelines was downgraded by analysts at Goldman Sachs Group Inc from a “neutral” rating to a “sell” rating.
  • 12/28/2018 – Tc Pipelines was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 11/19/2018 – Tc Pipelines was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $45.00 price target on the stock. According to Zacks, “Following TransCanada Corporation's stronger-than-expected third-quarter earnings, the company's rating is upgraded to a 'Buy’. Over the past few quarters, TransCanada's operational and financial results have been meeting or exceeding expectations on the back of strength in its expansion projects in U.S. gas pipelines and liquids segments. TRP is a predominantly natural gas pipeline operator with operations spanning Canada, the United States and Mexico. A quality stock with industry leading wide moat assets, it has a secured portfolio of C$36 billion in growth projects. This should support the company’s stated dividend growth commitment of 8-10% annually out to 2021. Underpinned by long-term contracts, TransCanada’s low-risk, recession-proof business model offers investors rock-solid revenue and cash flow stability. Consequently, TRP is viewed as a preferred midstream play to own now.”
  • 11/19/2018 – Tc Pipelines had its “average” rating reaffirmed by analysts at GMP Securities. They now have a $66.00 price target on the stock.

NYSE:TRP opened at $40.62 on Monday. The firm has a market cap of $36.69 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 1.78 and a beta of 0.71. Tc Pipelines Lp has a 1 year low of $34.58 and a 1 year high of $48.49. The company has a current ratio of 0.47, a quick ratio of 0.43 and a debt-to-equity ratio of 1.63.

Tc Pipelines (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, November 1st. The pipeline company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.41. Tc Pipelines had a return on equity of 13.43% and a net margin of 25.58%. The company had revenue of $3.16 billion for the quarter. During the same quarter last year, the business posted $0.70 EPS. The company’s quarterly revenue was down 1.2% on a year-over-year basis. On average, analysts predict that Tc Pipelines Lp will post 2.81 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Investors of record on Monday, December 31st will be given a $0.524 dividend. The ex-dividend date of this dividend is Friday, December 28th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 5.16%. Tc Pipelines’s dividend payout ratio (DPR) is presently 84.87%.

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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