Factors Likely to Have Influenced Earnings Results TC PipeLines (NYSE:TCP)

Earnings results for TC PipeLines (NYSE:TCP)

TC PipeLines, LP is expected* to report earnings on 02/24/2021 before market open. The report will be for the fiscal Quarter ending Dec 2020. According to Zacks Investment Research, based on 3 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.98. The reported EPS for the same quarter last year was $0.95.

Analyst Opinion on TC PipeLines (NYSE:TCP)

9 Wall Street analysts have issued ratings and price targets for TC PipeLines in the last 12 months. Their average twelve-month price target is $41.29, predicting that the stock has a possible upside of 32.88%. The high price target for TCP is $52.00 and the low price target for TCP is $32.00. There are currently 4 hold ratings and 5 buy ratings for the stock, resulting in a consensus rating of “Buy.”

TC PipeLines has received a consensus rating of Buy. The company’s average rating score is 2.56, and is based on 5 buy ratings, 4 hold ratings, and no sell ratings. According to analysts’ consensus price target of $41.29, TC PipeLines has a forecasted upside of 32.9% from its current price of $31.07. TC PipeLines has only been the subject of 2 research reports in the past 90 days.

Dividend Strength: TC PipeLines (NYSE:TCP)

TC PipeLines is a leading dividend payer. It pays a dividend yield of 8.37%, putting its dividend yield in the top 25% of dividend-paying stocks. TC PipeLines has only been increasing its dividend for 1 years. The dividend payout ratio of TC PipeLines is 69.52%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, TC PipeLines will have a dividend payout ratio of 72.02% next year. This indicates that TC PipeLines will be able to sustain or increase its dividend.

Insiders buying/selling: TC PipeLines (NYSE:TCP)

In the past three months, TC PipeLines insiders have not sold or bought any company stock. Only 0.09% of the stock of TC PipeLines is held by insiders. 65.65% of the stock of TC PipeLines is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of TC PipeLines (NYSE:TCP

Earnings for TC PipeLines are expected to decrease by -8.38% in the coming year, from $3.94 to $3.61 per share. The P/E ratio of TC PipeLines is 8.09, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 33.34. The P/E ratio of TC PipeLines is 8.09, which means that it is trading at a less expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 26.27. TC PipeLines has a P/B Ratio of 2.91. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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