FY2024 EPS Estimates for TC Energy Increased by Analyst

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Analysts at US Capital Advisors lifted their FY2024 earnings estimates for TC Energy in a research report issued to clients and investors on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now expects that the pipeline company will earn $3.16 per share for the year, up from their previous estimate of $2.91. The consensus estimate for TC Energy’s current full-year earnings is $3.00 per share. US Capital Advisors also issued estimates for TC Energy’s Q4 2024 earnings at $0.65 EPS, Q1 2025 earnings at $0.68 EPS, Q2 2025 earnings at $0.54 EPS, Q3 2025 earnings at $0.63 EPS, Q4 2025 earnings at $0.65 EPS, FY2025 earnings at $2.50 EPS and FY2026 earnings at $2.41 EPS.

Several other equities analysts have also recently issued reports on TRP. Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. The Goldman Sachs Group increased their price objective on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. BMO Capital Markets lifted their price objective on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Finally, Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $55.67.

TC Energy Price Performance

Shares of NYSE:TRP opened at $48.90 on Thursday. The company’s fifty day moving average price is $47.49 and its 200-day moving average price is $43.55. The firm has a market capitalization of $50.76 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 4.03 and a beta of 0.81. TC Energy has a one year low of $31.83 and a one year high of $50.37. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion.

Hedge Funds Weigh In On TC Energy

Several large investors have recently made changes to their positions in TRP. Cetera Investment Advisers raised its stake in TC Energy by 74.1% in the 1st quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock valued at $3,972,000 after purchasing an additional 42,024 shares during the last quarter. CIBC Asset Management Inc boosted its position in TC Energy by 2.6% in the 2nd quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company’s stock valued at $322,584,000 after buying an additional 214,689 shares during the period. Harvest Portfolios Group Inc. increased its holdings in TC Energy by 107.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock worth $10,743,000 after purchasing an additional 117,176 shares during the period. Metis Global Partners LLC grew its holdings in TC Energy by 16.3% during the 3rd quarter. Metis Global Partners LLC now owns 95,470 shares of the pipeline company’s stock worth $4,538,000 after acquiring an additional 13,368 shares in the last quarter. 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 during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.72%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is presently 78.95%.

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.