TC PipeLines, LP acquires, owns, and participates in the management of energy infrastructure businesses in North America. More Details
Average dividend payer with questionable track record.
Share Price & News
How has TC PipeLines's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: TCP has not had significant price volatility in the past 3 months.
7 Day Return
US Oil and Gas
1 Year Return
US Oil and Gas
Return vs Industry: TCP exceeded the US Oil and Gas industry which returned -47.4% over the past year.
Return vs Market: TCP underperformed the US Market which returned 15.6% over the past year.
Price Volatility Vs. Market
How volatile is TC PipeLines's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 years ago | Simply Wall StIs TC PipeLines LP (NYSE:TCP) Attractive At Its Current PE Ratio?
2 years ago | Simply Wall StCan TC PipeLines LP's (NYSE:TCP) ROE Continue To Surpass The Industry Average?
2 years ago | Simply Wall StWhy TC PipeLines LP (NYSE:TCP) Should Have A Place In Your Portfolio
Is TC PipeLines undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: TCP ($29.13) is trading above our estimate of fair value ($27.4)
Significantly Below Fair Value: TCP is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: TCP is poor value based on its PE Ratio (7.9x) compared to the US Oil and Gas industry average (7.6x).
PE vs Market: TCP is good value based on its PE Ratio (7.9x) compared to the US market (18.9x).
Price to Earnings Growth Ratio
PEG Ratio: TCP is poor value based on its PEG Ratio (1.5x)
Price to Book Ratio
PB vs Industry: TCP is overvalued based on its PB Ratio (3.1x) compared to the US Oil and Gas industry average (0.8x).
How is TC PipeLines forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: TCP's forecast earnings growth (5.3% per year) is above the savings rate (2.2%).
Earnings vs Market: TCP's earnings (5.3% per year) are forecast to grow slower than the US market (22.2% per year).
High Growth Earnings: TCP's earnings are forecast to grow, but not significantly.
Revenue vs Market: TCP's revenue (1.8% per year) is forecast to grow slower than the US market (10% per year).
High Growth Revenue: TCP's revenue (1.8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: TCP's Return on Equity is forecast to be high in 3 years time (30%)
How has TC PipeLines performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: TCP has high quality earnings.
Growing Profit Margin: TCP became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: TCP's earnings have declined by 4.6% per year over the past 5 years.
Accelerating Growth: TCP has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: TCP has become profitable in the last year, making it difficult to compare its past year earnings growth to the Oil and Gas industry (-35%).
Return on Equity
High ROE: Whilst TCP's Return on Equity (37.61%) is high, this metric is skewed due to their high level of debt.
How is TC PipeLines's financial position?
Financial Position Analysis
Short Term Liabilities: TCP's short term assets ($262.0M) do not cover its short term liabilities ($415.0M).
Long Term Liabilities: TCP's short term assets ($262.0M) do not cover its long term liabilities ($1.8B).
Debt to Equity History and Analysis
Debt Level: TCP's debt to equity ratio (268.1%) is considered high.
Reducing Debt: TCP's debt to equity ratio has increased from 143.1% to 268.1% over the past 5 years.
Debt Coverage: TCP's debt is not well covered by operating cash flow (19.5%).
Interest Coverage: TCP's interest payments on its debt are well covered by EBIT (4.4x coverage).
What is TC PipeLines's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: TCP's dividend (8.93%) is higher than the bottom 25% of dividend payers in the US market (1.65%).
High Dividend: TCP's dividend (8.93%) is in the top 25% of dividend payers in the US market (4.63%)
Stability and Growth of Payments
Stable Dividend: TCP's dividend payments have been volatile in the past 10 years.
Growing Dividend: TCP's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (70.2%), TCP's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: TCP's dividends in 3 years are forecast to be covered by earnings (67.3% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Nathan Brown (43 yo)
Mr. Nathaniel Alan Brown, also known as Nathan, is President, Principal Executive Officer and Director at TC Pipelines GP, Inc. and TC PipeLines LP since May 01, 2018 respectively. He serves as Controller ...
CEO Compensation Analysis
Compensation vs Market: Nathan's total compensation ($USD0.00) is below average for companies of similar size in the US market ($USD4.48M).
Compensation vs Earnings: Nathan's compensation has been consistent with company performance over the past year.
|President||2.42yrs||no data||no data|
|VP, Principal Financial Officer & Treasurer of TC PipeLines GP||2.42yrs||no data||no data|
|Controller & Principal Accounting Officer of TC Pipelines GP||1.25yrs||no data||no data|
|Secretary of TC Pipelines GP Inc||6.42yrs||no data||no data|
|VP & GM of TC Pipelines GP Inc.||5yrs||no data||no data|
|Manager||no data||US$117.85k||no data|
Experienced Management: TCP's management team is considered experienced (2.4 years average tenure).
|President||2.42yrs||no data||no data|
|Independent Lead Director of TC PipeLines GP||no data||US$175.00k||0.00041% |
|Independent Director of TC PipeLines GP||9.5yrs||US$175.00k||0.0014% |
|Chairman of TC PipeLines GP||1.75yrs||no data||no data|
|Director of TC PipeLines GP Inc||2.42yrs||no data||no data|
Experienced Board: TCP's board of directors are not considered experienced ( 2.4 years average tenure), which suggests a new board.
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
TC PipeLines, LP's company bio, employee growth, exchange listings and data sources
- Name: TC PipeLines, LP
- Ticker: TCP
- Exchange: NYSE
- Founded: 1998
- Industry: Oil and Gas Storage and Transportation
- Sector: Energy
- Market Cap: US$2.077b
- Shares outstanding: 71.31m
- Website: https://www.tcpipelineslp.com
- TC PipeLines, LP
- 700 Louisiana Street
- Suite 700
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|TCP||NYSE (New York Stock Exchange)||Yes||Common Units||US||USD||May 1999|
|TC0||DB (Deutsche Boerse AG)||Yes||Common Units||DE||EUR||May 1999|
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 tra ...
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/10/27 00:07|
|End of Day Share Price||2020/10/26 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.