Atb Cap Markets Equities Analysts Boost Earnings Estimates for TC Energy Co. (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Investment analysts at Atb Cap Markets increased their Q2 2024 earnings per share estimates for TC Energy in a report released on Monday, May 6th. Atb Cap Markets analyst N. Heywood now expects that the pipeline company will earn $0.68 per share for the quarter, up from their previous estimate of $0.65. The consensus estimate for TC Energy’s current full-year earnings is $2.90 per share. Atb Cap Markets also issued estimates for TC Energy’s Q3 2024 earnings at $0.72 EPS, FY2024 earnings at $3.10 EPS, Q1 2025 earnings at $0.92 EPS, Q2 2025 earnings at $0.70 EPS, Q3 2025 earnings at $0.76 EPS and Q4 2025 earnings at $0.88 EPS.

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

TC Energy Stock Performance

Shares of TRP opened at $37.87 on Thursday. The firm’s fifty day simple moving average is $38.42 and its two-hundred day simple moving average is $38.18. TC Energy has a 12 month low of $32.51 and a 12 month high of $42.42. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $37.87 billion, a P/E ratio of 19.52, a price-to-earnings-growth ratio of 3.24 and a beta of 0.76.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results 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 17.23% and a return on equity of 20.63%. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.93 billion.

Hedge Funds Weigh In On TC Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in TRP. EdgeRock Capital LLC bought a new position in TC Energy in the 4th quarter worth approximately $25,000. Bruce G. Allen Investments LLC bought a new stake in shares of TC Energy during the 4th quarter valued at $26,000. Creekmur Asset Management LLC purchased a new stake in TC Energy during the 4th quarter worth about $27,000. Glassman Wealth Services boosted its stake in TC Energy by 61.0% in the 4th quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 275 shares during the period. Finally, OLD Point Trust & Financial Services N A purchased a new position in TC Energy during the 4th quarter valued at about $31,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a $0.71 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.50%. TC Energy’s payout ratio is presently 145.88%.

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.