US Capital Advisors Expects Stronger Earnings for TC Energy

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Equities researchers at US Capital Advisors raised their Q3 2024 earnings estimates for shares of TC Energy in a research note issued to investors on Monday, October 28th. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings per share of $0.77 for the quarter, up from their prior estimate of $0.72. The consensus estimate for TC Energy’s current full-year earnings is $3.02 per share. US Capital Advisors also issued estimates for TC Energy’s Q4 2024 earnings at $0.63 EPS and Q4 2025 earnings at $0.62 EPS.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.78 billion. During the same period last year, the business earned $0.71 EPS.

A number of other research firms have also recently weighed in on TRP. StockNews.com assumed coverage on shares of TC Energy in a report on Saturday, October 5th. They issued a “hold” rating on the stock. The Goldman Sachs Group lifted their target price on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. Finally, Veritas upgraded shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, TC Energy currently has an average rating of “Hold” and an average target price of $48.50.

TC Energy Stock Up 0.4 %

NYSE:TRP opened at $46.47 on Tuesday. TC Energy has a fifty-two week low of $31.04 and a fifty-two week high of $48.25. The stock has a market capitalization of $48.22 billion, a P/E ratio of 19.04, a P/E/G ratio of 3.91 and a beta of 0.81. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. The company’s 50-day simple moving average is $46.32 and its 200-day simple moving average is $41.73.

Institutional Trading of TC Energy

Several institutional investors and hedge funds have recently bought and sold shares of TRP. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in TC Energy by 0.8% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,444,328 shares of the pipeline company’s stock valued at $98,300,000 after acquiring an additional 18,363 shares during the period. Norden Group LLC acquired a new stake in TC Energy during the 1st quarter valued at approximately $354,000. Maryland State Retirement & Pension System lifted its stake in TC Energy by 1.8% during the 1st quarter. Maryland State Retirement & Pension System now owns 1,302,358 shares of the pipeline company’s stock valued at $52,355,000 after acquiring an additional 22,430 shares during the period. Commonwealth Equity Services LLC lifted its stake in TC Energy by 2.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 97,055 shares of the pipeline company’s stock valued at $3,902,000 after acquiring an additional 2,338 shares during the period. Finally, Private Advisor Group LLC lifted its stake in TC Energy by 359.4% during the 1st quarter. Private Advisor Group LLC now owns 24,450 shares of the pipeline company’s stock valued at $983,000 after acquiring an additional 19,128 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

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.