Q3 2024 EPS Estimates for TC Energy Co. Lowered by Analyst (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Equities research analysts at Zacks Research dropped their Q3 2024 earnings estimates for TC Energy in a research report issued on Wednesday, April 24th. Zacks Research analyst T. Saha now anticipates that the pipeline company will post earnings per share of $0.67 for the quarter, down from their previous estimate of $0.68. The consensus estimate for TC Energy’s current full-year earnings is $2.89 per share. Zacks Research also issued estimates for TC Energy’s Q4 2024 earnings at $0.76 EPS and FY2024 earnings at $2.89 EPS.

Several other equities research analysts have also recently issued reports on TRP. The Goldman Sachs Group raised 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. TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. Stifel Nicolaus initiated coverage on shares of TC Energy in a research report on Thursday, January 18th. They set a “buy” rating for the company. Barclays lifted their price target on shares of TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Finally, 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $48.83.

TC Energy Price Performance

TC Energy stock opened at $36.07 on Friday. TC Energy has a 12-month low of $32.51 and a 12-month high of $42.49. The stock has a market cap of $36.07 billion, a P/E ratio of 17.77, a PEG ratio of 3.11 and a beta of 0.75. The company has a 50-day moving average price of $38.83 and a 200 day moving average price of $38.04. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Triasima Portfolio Management inc. boosted its stake in shares of TC Energy by 29.0% in the first quarter. Triasima Portfolio Management inc. now owns 192,600 shares of the pipeline company’s stock valued at $7,741,000 after purchasing an additional 43,350 shares during the period. Mesirow Financial Investment Management Inc. purchased a new position in shares of TC Energy in the first quarter valued at approximately $415,000. Verdence Capital Advisors LLC boosted its stake in shares of TC Energy by 61.3% in the first quarter. Verdence Capital Advisors LLC now owns 25,709 shares of the pipeline company’s stock valued at $1,033,000 after purchasing an additional 9,766 shares during the period. Lindbrook Capital LLC boosted its stake in shares of TC Energy by 70.9% in the first quarter. Lindbrook Capital LLC now owns 21,529 shares of the pipeline company’s stock valued at $865,000 after purchasing an additional 8,930 shares during the period. Finally, Simplicity Wealth LLC purchased a new position in TC Energy in the first quarter worth approximately $4,992,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

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 positive change from TC Energy’s previous quarterly dividend of $0.67. The ex-dividend date is Wednesday, March 27th. This represents a $2.86 annualized dividend and a dividend yield of 7.92%. TC Energy’s dividend payout ratio (DPR) is presently 139.41%.

TC Energy Company Profile

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.