Q1 2024 Earnings Forecast for TC Energy Co. (NYSE:TRP) Issued By Atb Cap Markets

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Stock analysts at Atb Cap Markets reduced their Q1 2024 earnings per share estimates for TC Energy in a report issued on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now expects that the pipeline company will earn $0.86 per share for the quarter, down from their previous estimate of $0.90. The consensus estimate for TC Energy’s current full-year earnings is $2.98 per share. Atb Cap Markets also issued estimates for TC Energy’s FY2024 earnings at $3.03 EPS.

Several other research firms also recently issued reports on TRP. Jefferies Financial Group assumed coverage on TC Energy in a research report on Tuesday, February 27th. They set a “hold” rating on the stock. Barclays boosted their target price on TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group upped their price objective on shares of TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. Finally, Stifel Nicolaus began coverage on shares of TC Energy in a research report on Thursday, January 18th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, TC Energy has an average rating of “Hold” and a consensus price target of $48.83.

TC Energy Price Performance

Shares of NYSE:TRP opened at $36.10 on Thursday. The company has a 50-day moving average price of $38.90 and a two-hundred day moving average price of $38.03. TC Energy has a twelve month low of $32.51 and a twelve month high of $42.49. The company has a quick ratio of 0.88, a current ratio of 0.96 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $36.10 billion, a PE ratio of 17.78, a P/E/G ratio of 3.03 and a beta of 0.75.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.93 billion.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a $0.714 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.67. The ex-dividend date is Wednesday, March 27th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 7.91%. TC Energy’s dividend payout ratio is 139.41%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Capital Research Global Investors lifted its position in TC Energy by 23.7% in the fourth quarter. Capital Research Global Investors now owns 55,677,989 shares of the pipeline company’s stock valued at $2,174,931,000 after purchasing an additional 10,654,993 shares during the last quarter. Norges Bank purchased a new position in shares of TC Energy in the fourth quarter worth $341,262,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in TC Energy by 70.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 16,540,018 shares of the pipeline company’s stock valued at $569,058,000 after buying an additional 6,840,000 shares during the period. Mufg Securities Canada LTD. bought a new stake in TC Energy in the 4th quarter worth $235,580,000. Finally, Capital International Investors increased its position in shares of TC Energy by 11.8% in the fourth quarter. Capital International Investors now owns 55,161,245 shares of the pipeline company’s stock valued at $2,155,419,000 after acquiring an additional 5,822,056 shares during the period. 83.13% of the stock is owned by institutional investors.

About TC Energy

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 Energy Solutions. The company builds and operates a network of 93,600 kilometers 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.