Tc Pipelines (NYSE:TRP) (TSE:TRP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The firm presently has a $51.00 price objective on the pipeline company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.31% from the company’s previous close.
According to Zacks, “TransCanada, a predominantly natural gas pipeline operator with operations spanning Canada, U.S. and Mexico, is a quality stock with industry leading moat assets. It has a secured portfolio of C$36 billion in growth projects, which should support its annual dividend growth target of 8-10% out to 2021. TransCanada has a long and consistent dividend paying record. It has announced a 8.7% hike in its quarterly pay-out for the first-quarter 2019. Underpinned by long-term contracts, TransCanada’s low-risk business model offers investors rock-solid revenue and cash flow stability. In the fourth-quarter 2018, the company’s earnings beat estimates on the back of strength in its U.S. and Canadian pipeline projects. As such, the company offers significant upside potential from its current levels.”
A number of other equities analysts have also commented on the company. Goldman Sachs Group lowered Tc Pipelines from a “neutral” rating to a “sell” rating in a research note on Thursday, January 3rd. ValuEngine raised Tc Pipelines from a “sell” rating to a “hold” rating in a research note on Wednesday, January 9th. Evercore ISI initiated coverage on Tc Pipelines in a research note on Tuesday, February 5th. They issued a $60.00 price objective on the stock. Wolfe Research lowered Tc Pipelines from an “outperform” rating to a “market perform” rating in a research note on Monday, January 7th. Finally, Macquarie began coverage on Tc Pipelines in a research note on Thursday, January 24th. They issued a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $50.33.
Tc Pipelines (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, February 14th. The pipeline company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.33. The company had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.53 billion. Tc Pipelines had a return on equity of 13.85% and a net margin of 26.72%. The business’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.82 earnings per share. Research analysts anticipate that Tc Pipelines will post 2.91 earnings per share for the current year.
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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