$0.68 Earnings Per Share Expected for TC Pipelines, LP (TCP) This Quarter

Equities research analysts expect that TC Pipelines, LP (NYSE:TCP) will post $0.68 earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have issued estimates for TC Pipelines’ earnings. The lowest EPS estimate is $0.54 and the highest is $0.88. TC Pipelines reported earnings per share of $0.61 in the same quarter last year, which would suggest a positive year over year growth rate of 11.5%. The company is scheduled to announce its next earnings report on Monday, November 5th.

On average, analysts expect that TC Pipelines will report full-year earnings of $3.81 per share for the current year, with EPS estimates ranging from $3.63 to $3.95. For the next financial year, analysts expect that the business will post earnings of $2.93 per share, with EPS estimates ranging from $2.57 to $3.60. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow TC Pipelines.

TC Pipelines (NYSE:TCP) last posted its quarterly earnings data on Thursday, August 2nd. The pipeline company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.19. TC Pipelines had a net margin of 66.44% and a return on equity of 26.67%. The company had revenue of $111.00 million for the quarter.

TCP has been the topic of several research reports. Zacks Investment Research upgraded shares of TC Pipelines from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Friday, September 28th. Citigroup lifted their target price on shares of TC Pipelines from $27.50 to $33.00 and gave the company a “hold” rating in a research report on Tuesday, July 31st. Finally, Barclays lifted their target price on shares of TC Pipelines from $26.00 to $32.00 and gave the company a “sell” rating in a research report on Monday, August 6th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $44.11.

NYSE:TCP opened at $30.70 on Friday. TC Pipelines has a 52-week low of $22.64 and a 52-week high of $57.08. The company has a current ratio of 1.33, a quick ratio of 1.23 and a debt-to-equity ratio of 1.97. The stock has a market cap of $2.16 billion, a PE ratio of 9.72 and a beta of 1.27.

Several institutional investors have recently modified their holdings of TCP. OppenheimerFunds Inc. boosted its position in shares of TC Pipelines by 34.0% during the 2nd quarter. OppenheimerFunds Inc. now owns 12,258,566 shares of the pipeline company’s stock valued at $318,110,000 after acquiring an additional 3,113,696 shares in the last quarter. Brookfield Asset Management Inc. boosted its position in TC Pipelines by 58.5% in the first quarter. Brookfield Asset Management Inc. now owns 4,400,730 shares of the pipeline company’s stock valued at $152,661,000 after buying an additional 1,624,598 shares in the last quarter. Atlantic Trust Group LLC acquired a new position in TC Pipelines in the first quarter valued at about $11,530,000. UBS Group AG boosted its position in TC Pipelines by 16.5% in the first quarter. UBS Group AG now owns 1,831,721 shares of the pipeline company’s stock valued at $63,542,000 after buying an additional 259,324 shares in the last quarter. Finally, Alps Advisors Inc. boosted its position in TC Pipelines by 5.8% in the second quarter. Alps Advisors Inc. now owns 4,500,282 shares of the pipeline company’s stock valued at $116,782,000 after buying an additional 246,327 shares in the last quarter. Institutional investors and hedge funds own 60.01% of the company’s stock.

About TC Pipelines

TC PipeLines, LP acquires, owns, and participates in the management of energy infrastructure businesses in North America. The company has interests in eight natural gas interstate pipeline systems that transport approximately 10.4 billion cubic feet per day of natural gas from producing regions and import facilities to market hubs and consuming markets primarily in the Western, Midwestern, and Eastern United States.

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