TC PipeLines, LP (NYSE:TCP) is reporting third quarter financial results on Tuesday 10th November 2020, before market open.
According to analysts surveyed by Thomson Reuters, TCP is expected to report 3Q20 income of $ 0.81 per share from revenue of $ 114.95 million.
For the full year, analysts anticipate top line of $ 555.56 million, while looking forward to income of $ 3.82 per share bottom line.
Previous Quarter Performance
TC PipeLines, LP revealed income for the second quarter of $ 0.78 per share, from the revenue of $ 95.00 million. The quarterly earnings elevated 4.00 percent while revenues shrunk 22.76 percent compared with the same quarter last year.
Wall street analysts are predicting, TCP to report 2Q20 income of $ 0.75 per share from revenue of $ 117.22 million. The bottom line results beat street analysts by $ 0.03 or 4.00 percent, at the same time, top line results fell short of analysts by $ 22.22 million or 18.96 percent.
Stock Performance
Shares of TC PipeLines, LP traded up $ 1.14 or 4.15 percent on Monday, reaching $ 28.64 with volume of 353.80 thousand shares. TC PipeLines, LP has traded high as $ 29.18 and has cracked $ 27.78 on the downward trend
According to the previous trading day, closing price of $ 28.64, representing a 52.78 % increase from the 52 week low of $ 18.00 and a 38.41 % decrease over the 52 week high of $ 44.65.
The company has a market capital of $ 2.10 billion and is part of the Energy sector and Oil & Gas Midstream industry.
Conference Call
TC PipeLines, LP will be hosting a conference call at 10:00 AM eastern time on 10th November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.tcpipelineslp.com
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 10.8 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. It serves large utilities, local distribution companies, natural gas marketers, producing companies, and other interstate pipelines, including affiliates.
