Tc Pipelines (NYSE:TRP) Raised to “Outperform Overweight” at National Bank Financial

National Bank Financial upgraded shares of Tc Pipelines (NYSE:TRP) (TSE:TRP) from a sector perform overweight rating to an outperform overweight rating in a research report released on Sunday, Zacks.com reports.

Other equities analysts also recently issued reports about the company. Bank of America raised Tc Pipelines from a neutral rating to a buy rating in a research note on Monday, March 9th. Evercore ISI began coverage on Tc Pipelines in a research note on Friday, February 14th. They issued a hold rating and a $60.00 price objective for the company. Tudor Pickering raised Tc Pipelines from a hold rating to a buy rating in a research note on Monday, March 16th. UBS Group raised Tc Pipelines from a neutral rating to a buy rating and dropped their price target for the stock from $71.00 to $65.00 in a research report on Monday, March 16th. Finally, Morgan Stanley raised Tc Pipelines from an underweight rating to an equal weight rating and set a $55.00 price target for the company in a research report on Monday, March 16th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $66.67.

NYSE TRP traded up $2.08 during mid-day trading on Friday, hitting $43.39. The stock had a trading volume of 3,804,800 shares, compared to its average volume of 2,394,503. Tc Pipelines has a 52-week low of $32.37 and a 52-week high of $57.92. The company has a market cap of $35.95 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 3.06 and a beta of 0.75. The company has a 50 day simple moving average of $49.93 and a 200 day simple moving average of $51.41. The company has a quick ratio of 0.56, a current ratio of 0.59 and a debt-to-equity ratio of 1.51.

Tc Pipelines (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, February 13th. The pipeline company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.25. Tc Pipelines had a return on equity of 13.97% and a net margin of 30.61%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same period last year, the business posted $1.03 EPS. As a group, equities analysts anticipate that Tc Pipelines will post 3.1 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.612 per share. This is an increase from Tc Pipelines’s previous quarterly dividend of $0.57. The ex-dividend date is Monday, March 30th. This represents a $2.45 annualized dividend and a yield of 5.64%. Tc Pipelines’s dividend payout ratio (DPR) is presently 74.04%.

Several hedge funds have recently bought and sold shares of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Tc Pipelines by 19.6% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,218,556 shares of the pipeline company’s stock worth $64,213,000 after purchasing an additional 199,907 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Tc Pipelines by 21.7% during the fourth quarter. Nuveen Asset Management LLC now owns 344,861 shares of the pipeline company’s stock worth $18,385,000 after purchasing an additional 61,544 shares during the last quarter. Norges Bank acquired a new stake in shares of Tc Pipelines during the fourth quarter worth $454,919,000. Wealth Quarterback LLC acquired a new stake in shares of Tc Pipelines during the fourth quarter worth $145,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Tc Pipelines during the fourth quarter worth $49,485,000. Institutional investors and hedge funds own 62.66% of the company’s stock.

Tc Pipelines Company Profile

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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Analyst Recommendations for Tc Pipelines (NYSE:TRP)

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