Tc Pipelines (NYSE:TRP) Downgraded by Tudor Pickering to Hold

Tudor Pickering lowered shares of Tc Pipelines (NYSE:TRP) (TSE:TRP) from a buy rating to a hold rating in a research report released on Wednesday, The Fly reports.

Other equities analysts have also issued reports about the company. CIBC set a $73.00 price objective on Tc Pipelines and gave the stock a buy rating in a research note on Sunday, November 3rd. Credit Suisse Group set a $70.00 price target on Tc Pipelines and gave the company a hold rating in a research note on Monday, October 21st. ValuEngine lowered Tc Pipelines from a hold rating to a sell rating in a research note on Friday, January 3rd. Bank of America assumed coverage on Tc Pipelines in a research note on Wednesday, December 18th. They set a neutral rating and a $56.00 price target on the stock. Finally, Scotiabank lowered Tc Pipelines from an outperform rating to a sector perform rating in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Tc Pipelines currently has an average rating of Hold and a consensus price target of $64.75.

Tc Pipelines stock opened at $55.01 on Wednesday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.71 and a current ratio of 0.75. The business’s 50-day simple moving average is $52.82 and its 200-day simple moving average is $51.01. The firm has a market capitalization of $51.21 billion, a PE ratio of 17.03, a PEG ratio of 2.51 and a beta of 0.78. Tc Pipelines has a 52 week low of $41.05 and a 52 week high of $55.10.

Tc Pipelines (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.03. The business had revenue of $2.37 billion for the quarter. Tc Pipelines had a return on equity of 14.12% and a net margin of 29.37%. Research analysts forecast that Tc Pipelines will post 3.09 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 4.14%. This is a positive change from Tc Pipelines’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Monday, December 30th. Tc Pipelines’s payout ratio is currently 77.52%.

A number of institutional investors and hedge funds have recently modified their holdings of TRP. Garrett Wealth Advisory Group LLC bought a new position in Tc Pipelines during the third quarter valued at about $29,000. Quest Capital Management Inc. ADV bought a new position in Tc Pipelines during the third quarter valued at about $29,000. Huntington National Bank increased its stake in Tc Pipelines by 144.4% during the fourth quarter. Huntington National Bank now owns 550 shares of the pipeline company’s stock valued at $29,000 after acquiring an additional 325 shares during the period. Global Retirement Partners LLC bought a new position in Tc Pipelines during the third quarter valued at about $33,000. Finally, Kistler Tiffany Companies LLC acquired a new stake in Tc Pipelines during the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.

About Tc Pipelines

TC Energy 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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