Wall Street brokerages forecast that TC Pipelines, LP (NYSE:TCP) will announce $0.73 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for TC Pipelines’ earnings, with the highest EPS estimate coming in at $0.76 and the lowest estimate coming in at $0.70. TC Pipelines also reported earnings of $0.73 per share during the same quarter last year. The firm is expected to report its next quarterly earnings results on Monday, November 5th.

According to Zacks, analysts expect that TC Pipelines will report full-year earnings of $3.81 per share for the current fiscal year, with EPS estimates ranging from $3.63 to $3.95. For the next financial year, analysts forecast that the business will post earnings of $2.93 per share, with EPS estimates ranging from $2.57 to $3.60. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow TC Pipelines.

TC Pipelines (NYSE:TCP) last posted its quarterly earnings results on Thursday, August 2nd. The pipeline company reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.19. TC Pipelines had a return on equity of 26.67% and a net margin of 66.44%. The company had revenue of $111.00 million during the quarter.

A number of research analysts recently weighed in on TCP shares. Barclays raised their price objective on TC Pipelines from $26.00 to $32.00 and gave the company a “sell” rating in a research note on Monday, August 6th. Citigroup raised their price objective on TC Pipelines from $27.50 to $33.00 and gave the company a “hold” rating in a research note on Tuesday, July 31st. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $47.00.

Shares of TCP traded down $1.08 during midday trading on Tuesday, reaching $31.75. 684,393 shares of the stock were exchanged, compared to its average volume of 249,975. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.33 and a quick ratio of 1.23. TC Pipelines has a 12-month low of $22.64 and a 12-month high of $57.08. The company has a market capitalization of $2.26 billion, a PE ratio of 10.05 and a beta of 1.25.

Several hedge funds have recently modified their holdings of TCP. Ferris Capital LLC grew its holdings in TC Pipelines by 35.7% in the 2nd quarter. Ferris Capital LLC now owns 6,682 shares of the pipeline company’s stock valued at $173,000 after buying an additional 1,758 shares during the last quarter. Conning Inc. grew its holdings in TC Pipelines by 6.2% in the 2nd quarter. Conning Inc. now owns 45,458 shares of the pipeline company’s stock valued at $1,180,000 after buying an additional 2,638 shares during the last quarter. Koch Industries Inc. grew its holdings in TC Pipelines by 36.7% in the 1st quarter. Koch Industries Inc. now owns 10,309 shares of the pipeline company’s stock valued at $358,000 after buying an additional 2,765 shares during the last quarter. Wells Fargo & Company MN grew its holdings in TC Pipelines by 10.1% in the 1st quarter. Wells Fargo & Company MN now owns 51,055 shares of the pipeline company’s stock valued at $1,771,000 after buying an additional 4,694 shares during the last quarter. Finally, Cribstone Capital Management LLC acquired a new stake in TC Pipelines in the 2nd quarter valued at approximately $156,000. 60.01% of the stock is currently owned by institutional investors and hedge funds.

About TC Pipelines

TC PipeLines, LP acquires, owns, and participates in the management of energy infrastructure businesses in North America. The company has interests in eight natural gas interstate pipeline systems that transport approximately 10.4 billion cubic feet per day of natural gas from producing regions and import facilities to market hubs and consuming markets primarily in the Western, Midwestern, and Eastern United States.

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