TC Energy (NYSE:TRP) Releases Earnings Results, Beats Estimates By $0.22 EPS

TC Energy (NYSE:TRP – Get Rating) (TSE:TRP) posted its quarterly earnings data on Friday. The pipeline company reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.22, Briefing.com reports. TC Energy had a return on equity of 14.77% and a net margin of 15.09%. The company had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter in the previous year, the business earned $0.89 EPS. TC Energy’s revenue was up 3.5% compared to the same quarter last year.

TC Energy stock traded down $3.15 during trading hours on Friday, hitting $52.90. 3,014,485 shares of the stock traded hands, compared to its average volume of 1,371,300. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.57 and a quick ratio of 0.51. The firm’s 50 day moving average price is $55.92 and its 200-day moving average price is $51.96. The stock has a market capitalization of $51.91 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 4.11 and a beta of 0.71. TC Energy has a 1 year low of $44.77 and a 1 year high of $59.06.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Thursday, June 30th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 5.44%. The ex-dividend date is Wednesday, June 29th. This is an increase from TC Energy’s previous quarterly dividend of $0.71. TC Energy’s payout ratio is presently 109.51%.

A number of equities analysts recently issued reports on the company. Wolfe Research cut TC Energy from a “peer perform” rating to an “underperform” rating and boosted their price objective for the company from $53.00 to $57.00 in a report on Monday, April 11th. Wells Fargo & Company lifted their target price on TC Energy from $63.00 to $68.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 22nd. TheStreet raised TC Energy from a “c+” rating to a “b” rating in a research report on Wednesday, January 19th. The Goldman Sachs Group lowered TC Energy from a “neutral” rating to a “sell” rating and set a $45.00 target price for the company. in a research report on Thursday, January 13th. Finally, Zacks Investment Research lowered TC Energy from a “hold” rating to a “sell” rating and set a $58.00 target price for the company. in a research report on Thursday. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $67.17.

Institutional investors and hedge funds have recently modified their holdings of the company. NEXT Financial Group Inc boosted its stake in shares of TC Energy by 35.5% in the fourth quarter. NEXT Financial Group Inc now owns 1,694 shares of the pipeline company’s stock worth $79,000 after buying an additional 444 shares during the last quarter. Autumn Glory Partners LLC acquired a new position in TC Energy in the 4th quarter worth about $313,000. Schonfeld Strategic Advisors LLC acquired a new position in TC Energy in the 4th quarter worth about $1,099,000. Cubist Systematic Strategies LLC acquired a new position in TC Energy in the 4th quarter worth about $1,706,000. Finally, Stifel Financial Corp raised its holdings in TC Energy by 9.5% in the 4th quarter. Stifel Financial Corp now owns 222,587 shares of the pipeline company’s stock worth $10,360,000 after purchasing an additional 19,403 shares during the period. Hedge funds and other institutional investors own 68.61% of the company’s stock.

TC Energy Company Profile (Get Rating)

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Storage. The company builds and operates 93,300 km network of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.

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