Atb Cap Markets Estimates TC Energy’s Q3 Earnings (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Stock analysts at Atb Cap Markets decreased their Q3 2024 earnings per share (EPS) estimates for TC Energy in a research note issued on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now expects that the pipeline company will earn $0.68 per share for the quarter, down from their prior forecast of $0.74. The consensus estimate for TC Energy’s current full-year earnings is $3.02 per share.

TC Energy (NYSE:TRP) (TSE:TRP) last posted 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 for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the prior year, the firm earned $0.71 EPS.

Other equities research analysts have also issued reports about the company. StockNews.com started coverage on TC Energy in a research report on Saturday, October 5th. They set a “hold” rating on the stock. The Goldman Sachs Group increased their target price on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. Veritas upgraded TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $48.50.

TC Energy Price Performance

Shares of TC Energy stock opened at $47.26 on Friday. The stock has a market capitalization of $47.26 billion, a price-to-earnings ratio of 24.36, a P/E/G ratio of 3.92 and a beta of 0.81. The firm’s 50-day moving average price is $46.20 and its two-hundred day moving average price is $41.50. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. TC Energy has a 1-year low of $30.61 and a 1-year high of $48.25.

Institutional Investors Weigh In On TC Energy

Institutional investors have recently modified their holdings of the business. EdgeRock Capital LLC bought a new stake in TC Energy in the second quarter valued at about $25,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after buying an additional 429 shares during the period. Fortitude Family Office LLC bought a new stake in shares of TC Energy in the 3rd quarter valued at about $28,000. Blue Trust Inc. increased its stake in shares of TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 267 shares during the last quarter. Finally, Mather Group LLC. acquired a new stake in shares of TC Energy in the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

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 5.94%. TC Energy’s payout ratio is 146.39%.

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.