$0.76 Earnings Per Share Expected for TC Pipelines, LP (NYSE:TCP) This Quarter

Equities analysts predict that TC Pipelines, LP (NYSE:TCP) will report $0.76 earnings per share for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for TC Pipelines’ earnings, with the lowest EPS estimate coming in at $0.70 and the highest estimate coming in at $0.80. TC Pipelines reported earnings per share of $1.00 during the same quarter last year, which suggests a negative year-over-year growth rate of 24%. The business is scheduled to announce its next earnings results on Thursday, August 1st.

On average, analysts expect that TC Pipelines will report full-year earnings of $3.53 per share for the current fiscal year, with EPS estimates ranging from $3.43 to $3.63. For the next year, analysts forecast that the firm will report earnings of $3.52 per share, with EPS estimates ranging from $3.21 to $3.68. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that cover TC Pipelines.

TC Pipelines (NYSE:TCP) last issued its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.16. The business had revenue of $113.00 million for the quarter. TC Pipelines had a positive return on equity of 33.52% and a negative net margin of 33.82%.

TCP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on TC Pipelines from $35.00 to $38.00 and gave the company an “underweight” rating in a report on Monday, March 18th. ValuEngine raised TC Pipelines from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Zacks Investment Research raised TC Pipelines from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Friday, April 12th. Finally, Barclays reaffirmed a “sell” rating and issued a $33.00 target price on shares of TC Pipelines in a report on Friday, February 22nd. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $35.29.

Several hedge funds have recently made changes to their positions in TCP. Lindbrook Capital LLC raised its position in TC Pipelines by 24.3% in the 1st quarter. Lindbrook Capital LLC now owns 1,892 shares of the pipeline company’s stock valued at $70,000 after purchasing an additional 370 shares during the last quarter. Bollard Group LLC raised its position in TC Pipelines by 3.0% in the 4th quarter. Bollard Group LLC now owns 13,107 shares of the pipeline company’s stock valued at $421,000 after purchasing an additional 377 shares during the last quarter. SG Americas Securities LLC raised its position in TC Pipelines by 1.3% in the 1st quarter. SG Americas Securities LLC now owns 34,479 shares of the pipeline company’s stock valued at $1,288,000 after purchasing an additional 450 shares during the last quarter. Truvestments Capital LLC bought a new position in TC Pipelines in the 1st quarter valued at $37,000. Finally, Portfolio Solutions LLC bought a new position in TC Pipelines in the 4th quarter valued at $36,000. Institutional investors own 63.08% of the company’s stock.

TCP opened at $37.89 on Tuesday. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 5.26 and a beta of 0.67. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 2.81. TC Pipelines has a 12-month low of $24.21 and a 12-month high of $38.03.

About TC Pipelines

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.

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