TC Pipelines, LP (NYSE:TCP) Expected to Post Earnings of $0.74 Per Share

Share on StockTwits

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.

TCP has been the topic of several research analyst reports. US Capital Advisors initiated coverage on TC Pipelines in a research note on Friday, July 10th. They issued an “overweight” rating on the stock. Goldman Sachs Group upgraded TC Pipelines from a “sell” rating to a “neutral” rating and upped their price objective for the company from $51.00 to $52.00 in a research note on Monday, July 6th. Citigroup dropped their price objective on TC Pipelines from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, June 19th. Zacks Investment Research downgraded TC Pipelines from a “buy” rating to a “hold” rating and set a $35.00 price objective on the stock. in a research note on Wednesday, August 12th. Finally, Raymond James initiated coverage on TC Pipelines in a research note on Thursday, July 9th. They issued a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $42.09.

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.

Featured Story: What sectors are represented in the Hang Seng index?

Get a free copy of the Zacks research report on TC Pipelines (TCP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for TC Pipelines (NYSE:TCP)

Receive News & Ratings for TC Pipelines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TC Pipelines and related companies with MarketBeat.com's FREE daily email newsletter.