Zacks Research Weighs in on TC Energy Co.’s Q2 2024 Earnings (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Investment analysts at Zacks Research reduced their Q2 2024 earnings estimates for TC Energy in a note issued to investors on Wednesday, April 24th. Zacks Research analyst T. Saha now forecasts that the pipeline company will post earnings of $0.63 per share for the quarter, down from their prior forecast of $0.64. The consensus estimate for TC Energy’s current full-year earnings is $2.98 per share. Zacks Research also issued estimates for TC Energy’s Q1 2025 earnings at $0.79 EPS, Q2 2025 earnings at $0.66 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.72 EPS, FY2025 earnings at $2.76 EPS, Q1 2026 earnings at $0.79 EPS and FY2026 earnings at $2.93 EPS.

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 analysts’ consensus estimates 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%.

A number of other equities analysts have also issued reports on TRP. Stifel Nicolaus assumed coverage on shares of TC Energy in a research report on Thursday, January 18th. They set a “buy” rating on the stock. Barclays upped their target price on shares of 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 shares of TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group upped their target price 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, Jefferies Financial Group started coverage on shares of TC Energy in a research note on Tuesday, February 27th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, TC Energy currently has an average rating of “Hold” and a consensus target price of $48.83.

TC Energy Price Performance

Shares of TRP stock opened at $36.10 on Thursday. TC Energy has a 1 year low of $32.51 and a 1 year high of $42.49. The firm’s 50 day moving average is $38.90 and its 200-day moving average is $38.03. The firm has a market capitalization of $36.10 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 3.03 and a beta of 0.75. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65.

Institutional Investors Weigh In On TC Energy

Large investors have recently bought and sold shares of the company. EdgeRock Capital LLC bought a new stake in TC Energy in the fourth quarter valued at approximately $25,000. Bruce G. Allen Investments LLC bought a new stake in TC Energy in the fourth quarter valued at approximately $26,000. Creekmur Asset Management LLC bought a new stake in TC Energy in the fourth quarter valued at approximately $27,000. Glassman Wealth Services increased its stake in TC Energy by 61.0% in the fourth quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 275 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A bought a new stake in TC Energy in the fourth quarter valued at approximately $31,000. Institutional investors own 83.13% of the company’s stock.

TC Energy Increases Dividend

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

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.