Equities analysts expect that TC Pipelines, LP (NYSE:TCP) will announce earnings per share of $0.74 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for TC Pipelines’ earnings, with the highest EPS estimate coming in at $0.80 and the lowest estimate coming in at $0.65. TC Pipelines posted earnings per share of $0.76 in the same quarter last year, which suggests a negative year-over-year growth rate of 2.6%. The company is scheduled to issue its next quarterly earnings report on Thursday, November 5th.
On average, analysts expect that TC Pipelines will report full year earnings of $3.78 per share for the current year, with EPS estimates ranging from $3.62 to $3.95. For the next year, analysts anticipate that the business will post earnings of $3.52 per share, with EPS estimates ranging from $3.30 to $3.96. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow TC Pipelines.
TC Pipelines (NYSE:TCP) last released its earnings results on Wednesday, August 5th. The pipeline company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.03. TC Pipelines had a return on equity of 36.30% and a net margin of 70.48%. The company had revenue of $95.00 million during the quarter, compared to analyst estimates of $107.83 million. During the same period in the prior year, the company posted $0.75 earnings per share. TC Pipelines’s quarterly revenue was up 2.2% on a year-over-year basis.
Several institutional investors have recently added to or reduced their stakes in TCP. Blackstone Group Inc bought a new position in shares of TC Pipelines in the second quarter worth $94,841,000. Brookfield Asset Management Inc. grew its stake in shares of TC Pipelines by 227.4% during the second quarter. Brookfield Asset Management Inc. now owns 1,903,413 shares of the pipeline company’s stock valued at $59,120,000 after buying an additional 1,322,103 shares during the last quarter. Tortoise Capital Advisors L.L.C. bought a new position in shares of TC Pipelines during the first quarter valued at about $22,265,000. JPMorgan Chase & Co. grew its stake in shares of TC Pipelines by 46.0% during the first quarter. JPMorgan Chase & Co. now owns 1,917,343 shares of the pipeline company’s stock valued at $52,688,000 after buying an additional 604,478 shares during the last quarter. Finally, Citigroup Inc. grew its stake in shares of TC Pipelines by 113.1% during the first quarter. Citigroup Inc. now owns 1,071,434 shares of the pipeline company’s stock valued at $29,443,000 after buying an additional 568,624 shares during the last quarter. 66.56% of the stock is currently owned by hedge funds and other institutional investors.
TC Pipelines stock traded down $0.21 during trading on Wednesday, hitting $27.78. The stock had a trading volume of 184,583 shares, compared to its average volume of 442,780. TC Pipelines has a 1 year low of $18.00 and a 1 year high of $44.65. The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 2.24. The stock’s 50 day moving average is $31.34 and its two-hundred day moving average is $31.96. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 7.51 and a beta of 1.03.
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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