TC Energy Co. Expected to Post Q2 2024 Earnings of $0.63 Per Share (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Stock analysts at Zacks Research reduced their Q2 2024 earnings per share estimates for TC Energy in a report issued on Wednesday, April 24th. Zacks Research analyst T. Saha now expects that the pipeline company will earn $0.63 per share for the quarter, down from their previous estimate of $0.64. The consensus estimate for TC Energy’s current full-year earnings is $2.89 per share. Zacks Research also issued estimates for TC Energy’s Q1 2025 earnings at $0.79 EPS, Q2 2025 earnings at $0.66 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.72 EPS, FY2025 earnings at $2.76 EPS, Q1 2026 earnings at $0.79 EPS and FY2026 earnings at $2.93 EPS.

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

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group increased their target price on TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. Stifel Nicolaus assumed coverage on TC Energy in a research report on Thursday, January 18th. They set a “buy” rating on the stock. Barclays increased their target price on TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Jefferies Financial Group assumed coverage on TC Energy in a research report on Tuesday, February 27th. They set a “hold” rating on the stock. Finally, TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. One equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.83.

TC Energy Price Performance

Shares of NYSE TRP opened at $36.07 on Thursday. The firm has a market cap of $36.07 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 3.11 and a beta of 0.75. The stock has a fifty day simple moving average of $38.83 and a two-hundred day simple moving average of $38.04. TC Energy has a 1-year low of $32.51 and a 1-year high of $42.49. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a $0.714 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 7.92%. 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. TC Energy’s dividend payout ratio (DPR) is 139.41%.

Institutional Investors Weigh In On TC Energy

A number of institutional investors and hedge funds have recently made changes to their positions in TRP. IFP Advisors Inc lifted its stake in TC Energy by 74.8% during the third quarter. IFP Advisors Inc now owns 3,455 shares of the pipeline company’s stock worth $119,000 after purchasing an additional 1,478 shares during the last quarter. SG Americas Securities LLC lifted its stake in TC Energy by 747.1% during the third quarter. SG Americas Securities LLC now owns 22,627 shares of the pipeline company’s stock worth $779,000 after purchasing an additional 19,956 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in TC Energy by 2.5% during the third quarter. DAVENPORT & Co LLC now owns 87,614 shares of the pipeline company’s stock worth $3,027,000 after purchasing an additional 2,110 shares during the last quarter. Private Trust Co. NA lifted its stake in TC Energy by 10.2% during the third quarter. Private Trust Co. NA now owns 5,817 shares of the pipeline company’s stock worth $200,000 after purchasing an additional 540 shares during the last quarter. Finally, Hennessy Advisors Inc. lifted its stake in TC Energy by 15.6% during the third quarter. Hennessy Advisors Inc. now owns 679,200 shares of the pipeline company’s stock worth $23,371,000 after purchasing an additional 91,600 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

About TC Energy

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.