TC PipeLines (NYSE: TCP) is expected to report Q1 earnings on April 24. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict TC PipeLines's revenues will increase 9.2% and EPS will contract -9.9%.

The average estimate for revenue is $58.9 million. On the bottom line, the average EPS estimate is $0.64.

Revenue details
 Last quarter, TC PipeLines reported revenue of $45.0 million. GAAP reported sales were 18% lower than the prior-year quarter's $55.0 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at $0.56. GAAP EPS of $0.54 for Q4 were 22% lower than the prior-year quarter's $0.69 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 88.9%, 200 basis points worse than the prior-year quarter. Operating margin was 80.0%, 180 basis points worse than the prior-year quarter. Net margin was 66.7%, 240 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $213.2 million. The average EPS estimate is $2.40.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 164 members out of 177 rating the stock outperform, and 13 members rating it underperform. Among 54 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 52 give TC PipeLines a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on TC PipeLines is hold, with an average price target of $44.35.

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