FY2024 EPS Estimates for TC Energy Co. Lifted by Analyst (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Investment analysts at Zacks Research upped their FY2024 earnings estimates for TC Energy in a research note issued to investors on Thursday, August 22nd. Zacks Research analyst T. Saha now forecasts that the pipeline company will earn $3.03 per share for the year, up from their previous forecast of $2.93. The consensus estimate for TC Energy’s current full-year earnings is $3.04 per share. Zacks Research also issued estimates for TC Energy’s Q4 2024 earnings at $0.78 EPS, Q3 2025 earnings at $0.80 EPS, Q4 2025 earnings at $0.75 EPS, FY2025 earnings at $3.01 EPS, Q1 2026 earnings at $0.81 EPS, Q2 2026 earnings at $0.78 EPS and FY2026 earnings at $3.23 EPS.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the prior year, the firm earned $0.71 earnings per share.

Separately, Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.67.

TC Energy Price Performance

Shares of TRP opened at $45.45 on Monday. TC Energy has a fifty-two week low of $32.51 and a fifty-two week high of $45.68. The company has a market capitalization of $45.45 billion, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 3.66 and a beta of 0.79. The firm has a 50-day simple moving average of $41.01 and a 200-day simple moving average of $39.44. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Cetera Investment Advisers increased its holdings in TC Energy by 5.2% in the second quarter. Cetera Investment Advisers now owns 103,894 shares of the pipeline company’s stock valued at $3,938,000 after buying an additional 5,165 shares in the last quarter. NewEdge Advisors LLC increased its holdings in TC Energy by 9.5% in the second quarter. NewEdge Advisors LLC now owns 46,687 shares of the pipeline company’s stock valued at $1,769,000 after buying an additional 4,068 shares in the last quarter. Duff & Phelps Investment Management Co. increased its holdings in TC Energy by 16.6% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,033,500 shares of the pipeline company’s stock valued at $39,170,000 after buying an additional 147,500 shares in the last quarter. Scientech Research LLC purchased a new position in TC Energy in the second quarter valued at about $259,000. Finally, Legal & General Group Plc increased its holdings in TC Energy by 4.1% in the second quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock valued at $450,749,000 after buying an additional 467,497 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a $0.702 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a yield of 6.18%. TC Energy’s payout ratio is currently 143.30%.

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.