Tc Pipelines (TSE:TRP) Price Target Raised to C$70.00

Tc Pipelines (TSE:TRP) (NYSE:TRP) had its target price raised by CIBC from C$69.00 to C$70.00 in a research report released on Wednesday, BayStreet.CA reports.

Several other brokerages have also issued reports on TRP. JPMorgan Chase & Co. boosted their price objective on shares of Tc Pipelines from C$72.00 to C$73.00 in a report on Tuesday, May 7th. Citigroup boosted their price objective on shares of Tc Pipelines from C$60.00 to C$73.00 and gave the company a buy rating in a report on Tuesday, June 4th. Royal Bank of Canada boosted their price objective on shares of Tc Pipelines from C$71.00 to C$75.00 and gave the company an outperform rating in a report on Wednesday, May 29th. Finally, GMP Securities reduced their price objective on shares of Tc Pipelines from C$74.00 to C$73.00 in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of C$69.00.

Shares of TRP opened at C$64.19 on Wednesday. The stock has a market cap of $59.87 billion and a price-to-earnings ratio of 15.37. Tc Pipelines has a 12-month low of C$47.90 and a 12-month high of C$67.15. The firm has a 50-day moving average of C$65.43. The company has a debt-to-equity ratio of 163.50, a quick ratio of 0.27 and a current ratio of 0.37.

Tc Pipelines (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings data on Friday, May 3rd. The company reported C$1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.97 by C$0.10. The company had revenue of C$3.49 billion during the quarter. As a group, research analysts anticipate that Tc Pipelines will post 4.0400001 earnings per share for the current year.

About Tc Pipelines

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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Analyst Recommendations for Tc Pipelines (TSE:TRP)

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