TC Energy Co. to Post Q1 2024 Earnings of $0.83 Per Share, National Bank Financial Forecasts (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Stock analysts at National Bank Financial issued their Q1 2024 EPS estimates for TC Energy in a research note issued to investors on Tuesday, April 23rd. National Bank Financial analyst P. Kenny forecasts that the pipeline company will post earnings of $0.83 per share for the quarter. The consensus estimate for TC Energy’s current full-year earnings is $2.98 per share.

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

TC Energy Price Performance

NYSE:TRP opened at $36.10 on Thursday. TC Energy has a 52 week low of $32.51 and a 52 week high of $42.49. The stock’s fifty day moving average is $38.90 and its two-hundred day moving average is $38.03. The company has a market capitalization of $36.10 billion, a P/E ratio of 17.78, a P/E/G ratio of 3.03 and a beta of 0.75. The company has a quick ratio of 0.88, a current ratio of 0.96 and a debt-to-equity ratio of 1.65.

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

TC Energy Increases Dividend

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

Institutional Investors Weigh In On TC Energy

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

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.