TC Pipelines, LP (NYSE:TCP) to Issue Quarterly Dividend of $0.65

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TC Pipelines, LP (NYSE:TCP) declared a quarterly dividend on Tuesday, October 22nd, Fidelity reports. Shareholders of record on Friday, November 1st will be paid a dividend of 0.65 per share by the pipeline company on Thursday, November 14th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.68%. The ex-dividend date is Thursday, October 31st.

Shares of TC Pipelines stock traded down $0.08 during trading hours on Wednesday, reaching $38.91. The stock had a trading volume of 7,644 shares, compared to its average volume of 196,340. The stock’s 50 day moving average is $39.60 and its 200 day moving average is $38.03. The firm has a market capitalization of $2.79 billion, a PE ratio of 9.30, a PEG ratio of 5.49 and a beta of 0.69. TC Pipelines has a twelve month low of $26.88 and a twelve month high of $42.11. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 2.63.

TC Pipelines (NYSE:TCP) last issued its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.01). The firm had revenue of $93.00 million during the quarter. TC Pipelines had a positive return on equity of 35.63% and a negative net margin of 38.56%. As a group, sell-side analysts predict that TC Pipelines will post 3.56 earnings per share for the current year.

A number of research firms have recently commented on TCP. Zacks Investment Research raised shares of TC Pipelines from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Tuesday, July 16th. Bank of America raised shares of TC Pipelines from an “underperform” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Friday, September 20th. Barclays reissued a “hold” rating and set a $44.00 target price on shares of TC Pipelines in a research note on Wednesday, October 16th. Finally, ValuEngine cut shares of TC Pipelines from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. TC Pipelines presently has a consensus rating of “Hold” and an average price target of $41.80.

About TC Pipelines

TC Pipelines LP engages in nautral gas pipelines business. It transports natural gas in Western, Midwestern and Eastern United States. The firm is managed by its general partner TC Pipelines GP, Inc, which is an indirect, wholly-owned subsidiary of TransCanada. The company was founded in 1998 and is headquartered in Houston, TX.

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Dividend History for TC Pipelines (NYSE:TCP)

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