TC Pipelines, LP Rating Increased to Buy at TheStreet (TCP)
TC Pipelines, LP (NYSE:TCP) was upgraded by stock analysts at TheStreet from a “hold” rating to a “buy” rating in a report issued on Wednesday, Analyst Ratings.Net reports.
The analysts wrote, “TC Pipelines (TCP) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.”
Shares of TC Pipelines, LP (NYSE:TCP) opened at 50.17 on Wednesday. TC Pipelines, LP has a 52 week low of $38.74 and a 52 week high of $52.61. The stock has a 50-day moving average of $49.29 and a 200-day moving average of $48.04. The company has a market cap of $3.127 billion and a P/E ratio of 23.77.
TC Pipelines, LP (NYSE:TCP) last posted its quarterly earnings results on Friday, October 25th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by $0.10. Analysts expect that TC Pipelines, LP will post $2.11 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, November 14th. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 6.46%. The ex-dividend date of this dividend is Friday, November 1st.
TCP has been the subject of a number of other recent research reports. Analysts at RBC Capital initiated coverage on shares of TC Pipelines, LP in a research note to investors on Thursday, October 3rd. They set a “sector perform” rating and a $51.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of TC Pipelines, LP in a research note to investors on Monday, September 9th. They now have a $49.00 price target on the stock. Finally, analysts at Bank of America Corp. downgraded shares of TC Pipelines, LP from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, August 23rd. They now have a $51.00 price target on the stock, down previously from $53.00. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $49.50.
TC PipeLines, LP (NYSE:TCP) acquires, owns and participates in the management of energy infrastructure businesses in North America.
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