CIBC Reiterates Buy Rating for Tc Pipelines (TRP)

CIBC reaffirmed their buy rating on shares of Tc Pipelines (NYSE:TRP) (TSE:TRP) in a research report released on Friday.

Other research analysts also recently issued reports about the company. Deutsche Bank increased their price objective on Tc Pipelines from $57.00 to $59.00 and gave the stock a buy rating in a report on Wednesday, August 15th. Zacks Investment Research downgraded Tc Pipelines from a buy rating to a hold rating in a report on Friday, July 27th. Goldman Sachs Group started coverage on Tc Pipelines in a report on Monday, October 8th. They set a neutral rating and a $38.00 price objective for the company. UBS Group started coverage on Tc Pipelines in a report on Thursday, October 4th. They set a neutral rating for the company. Finally, Morgan Stanley set a $28.00 price objective on Tc Pipelines and gave the stock a sell rating in a report on Friday, September 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $49.00.

Shares of NYSE:TRP traded up $0.54 during mid-day trading on Friday, reaching $39.23. 7,799 shares of the stock were exchanged, compared to its average volume of 1,442,750. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.43 and a current ratio of 0.47. The company has a market cap of $35.34 billion, a PE ratio of 16.26, a PEG ratio of 1.69 and a beta of 0.59. Tc Pipelines has a one year low of $37.24 and a one year high of $51.07.

Tc Pipelines (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, November 1st. The pipeline company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.41. The business had revenue of $3.16 billion during the quarter. Tc Pipelines had a return on equity of 13.43% and a net margin of 25.58%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 earnings per share. On average, research analysts predict that Tc Pipelines will post 2.63 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Clal Insurance Enterprises Holdings Ltd grew its stake in Tc Pipelines by 328.6% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 6,000 shares of the pipeline company’s stock valued at $259,000 after purchasing an additional 4,600 shares in the last quarter. Icon Wealth Partners LLC grew its stake in Tc Pipelines by 42.5% in the second quarter. Icon Wealth Partners LLC now owns 6,865 shares of the pipeline company’s stock valued at $297,000 after purchasing an additional 2,047 shares in the last quarter. Archford Capital Strategies LLC bought a new position in Tc Pipelines in the second quarter valued at approximately $307,000. FDx Advisors Inc. grew its stake in Tc Pipelines by 36.1% in the second quarter. FDx Advisors Inc. now owns 9,338 shares of the pipeline company’s stock valued at $403,000 after purchasing an additional 2,475 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Tc Pipelines by 88.3% in the second quarter. SG Americas Securities LLC now owns 16,979 shares of the pipeline company’s stock valued at $733,000 after purchasing an additional 7,961 shares in the last quarter. Hedge funds and other institutional investors own 60.52% of the company’s stock.

About Tc Pipelines

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 and individual facilities, interconnecting pipelines, and other businesses.

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Analyst Recommendations for Tc Pipelines (NYSE:TRP)

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