Short Interest in Tc Pipelines Lp (TRP) Expands By 26.0%

Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) was the target of a large increase in short interest in the month of March. As of March 29th, there was short interest totalling 13,519,675 shares, an increase of 26.0% from the March 15th total of 10,727,033 shares. Based on an average daily trading volume, of 1,195,537 shares, the days-to-cover ratio is currently 11.3 days.

TRP opened at $46.51 on Wednesday. The company has a market capitalization of $42.89 billion, a PE ratio of 15.61, a PEG ratio of 2.33 and a beta of 0.88. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.40 and a quick ratio of 0.36. Tc Pipelines has a 52 week low of $34.58 and a 52 week high of $46.70.

Tc Pipelines (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, February 14th. The pipeline company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.33. The company had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Tc Pipelines had a return on equity of 13.85% and a net margin of 26.72%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 EPS. As a group, research analysts expect that Tc Pipelines will post 2.91 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a $0.571 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date of this dividend is Thursday, March 28th. This is a boost from Tc Pipelines’s previous quarterly dividend of $0.52. Tc Pipelines’s dividend payout ratio (DPR) is presently 76.51%.

Several research firms have weighed in on TRP. Industrial Alliance Securities reiterated a “buy” rating on shares of Tc Pipelines in a report on Monday, April 8th. Zacks Investment Research upgraded Tc Pipelines from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Tuesday, April 2nd. Evercore ISI began coverage on Tc Pipelines in a report on Tuesday, February 5th. They issued a $60.00 price objective for the company. Macquarie began coverage on Tc Pipelines in a report on Thursday, January 24th. They issued a “neutral” rating for the company. Finally, ValuEngine upgraded Tc Pipelines from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Tc Pipelines currently has a consensus rating of “Hold” and an average price target of $50.33.

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Tc Pipelines Company Profile

TransCanada Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Energy segments. The company transports natural gas to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, and other businesses.

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