TC Energy Co. to Post Q1 2024 Earnings of $0.86 Per Share, Atb Cap Markets Forecasts (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Atb Cap Markets decreased their Q1 2024 earnings estimates for TC Energy in a research note issued to investors on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now anticipates that the pipeline company will earn $0.86 per share for the quarter, down from their previous forecast of $0.90. The consensus estimate for TC Energy’s current full-year earnings is $2.98 per share. Atb Cap Markets also issued estimates for TC Energy’s FY2024 earnings at $3.03 EPS.

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

TC Energy Trading Up 0.5 %

NYSE:TRP opened at $36.10 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65. TC Energy has a 1-year low of $32.51 and a 1-year high of $42.49. The firm has a market capitalization of $36.10 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 3.03 and a beta of 0.75. The business’s 50-day moving average price is $38.90 and its two-hundred day moving average price is $38.03.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.93 billion.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a dividend of $0.714 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from TC Energy’s previous quarterly dividend of $0.67. This represents a $2.86 dividend on an annualized basis and a dividend yield of 7.91%. TC Energy’s dividend payout ratio (DPR) is presently 139.41%.

Hedge Funds Weigh In On TC Energy

A number of large investors have recently modified their holdings of the business. EdgeRock Capital LLC acquired a new stake in shares of TC Energy in the 4th quarter valued at approximately $25,000. Bruce G. Allen Investments LLC acquired a new stake in TC Energy in the fourth quarter valued at $26,000. Creekmur Asset Management LLC bought a new position in shares of TC Energy in the 4th quarter valued at about $27,000. Glassman Wealth Services lifted its position in shares of TC Energy by 61.0% in the fourth quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock valued at $28,000 after buying an additional 275 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A bought a new stake in TC Energy in the 4th quarter valued at $31,000. 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.