Tc Pipelines (NYSE:TRP) Receives New Coverage from Analysts at Bank of America

Share on StockTwits

Analysts at Bank of America initiated coverage on shares of Tc Pipelines (NYSE:TRP) (TSE:TRP) in a report issued on Wednesday, December 18th, Marketbeat reports. The brokerage set a “neutral” rating and a $56.00 price target on the pipeline company’s stock. Bank of America‘s price target points to a potential upside of 6.24% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. CIBC set a $73.00 price target on shares of Tc Pipelines and gave the company a “buy” rating in a report on Sunday, November 3rd. Scotiabank cut shares of Tc Pipelines from an “outperform” rating to a “sector perform” rating in a report on Thursday, October 10th. ValuEngine raised shares of Tc Pipelines from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Credit Suisse Group set a $70.00 price target on shares of Tc Pipelines and gave the company a “hold” rating in a report on Monday, October 21st. Finally, Evercore ISI reissued a “hold” rating and issued a $60.00 price target on shares of Tc Pipelines in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $64.75.

NYSE:TRP traded up $0.31 on Wednesday, hitting $52.71. 824,547 shares of the company’s stock were exchanged, compared to its average volume of 1,808,556. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.75 and a quick ratio of 0.71. The firm has a 50-day moving average price of $51.96 and a 200-day moving average price of $50.72. The company has a market cap of $48.94 billion, a P/E ratio of 17.69, a price-to-earnings-growth ratio of 2.42 and a beta of 0.78. Tc Pipelines has a 52 week low of $40.39 and a 52 week high of $53.95.

Tc Pipelines (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.03. The company had revenue of $2.37 billion for the quarter. Tc Pipelines had a net margin of 29.37% and a return on equity of 14.12%. On average, research analysts expect that Tc Pipelines will post 3.09 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Garrett Wealth Advisory Group LLC bought a new position in Tc Pipelines in the 3rd quarter valued at approximately $29,000. Quest Capital Management Inc. ADV bought a new position in Tc Pipelines in the 3rd quarter valued at approximately $29,000. Global Retirement Partners LLC bought a new position in Tc Pipelines in the 3rd quarter valued at approximately $33,000. Kistler Tiffany Companies LLC bought a new position in Tc Pipelines in the 3rd quarter valued at approximately $37,000. Finally, NEXT Financial Group Inc lifted its stake in Tc Pipelines by 32.1% in the 3rd quarter. NEXT Financial Group Inc now owns 847 shares of the pipeline company’s stock valued at $44,000 after purchasing an additional 206 shares during the last quarter. Institutional investors and hedge funds own 63.23% 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.

Further Reading: What is a stock portfolio tracker?

Analyst Recommendations for Tc Pipelines (NYSE:TRP)

Receive News & Ratings for Tc Pipelines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tc Pipelines and related companies with MarketBeat.com's FREE daily email newsletter.