TC Energy Co. (NYSE:TRP) to Post Q1 2024 Earnings of $0.83 Per Share, National Bank Financial Forecasts

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Stock analysts at National Bank Financial issued their Q1 2024 earnings per share estimates for TC Energy in a report released on Tuesday, April 23rd. National Bank Financial analyst P. Kenny forecasts that the pipeline company will post earnings per share of $0.83 for the quarter. The consensus estimate for TC Energy’s current full-year earnings is $2.89 per share.

Other equities analysts also recently issued reports about the company. The Goldman Sachs Group increased their target price on TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research report on Friday, January 26th. Jefferies Financial Group initiated coverage on TC Energy in a research report on Tuesday, February 27th. They issued a “hold” rating for the company. TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. Stifel Nicolaus started coverage on TC Energy in a research report on Thursday, January 18th. They issued a “buy” rating for the company. Finally, Barclays raised their price objective 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, TC Energy currently has an average rating of “Hold” and an average price target of $48.83.

TC Energy Price Performance

TC Energy stock opened at $36.07 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. The company has a market capitalization of $36.07 billion, a PE ratio of 17.77, a P/E/G ratio of 3.11 and a beta of 0.75. TC Energy has a 12 month low of $32.51 and a 12 month high of $42.49. The stock has a 50-day moving average price of $38.83 and a two-hundred day moving average price of $38.04.

TC Energy (NYSE:TRP) (TSE:TRP) last released 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. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.93 billion. TC Energy had a return on equity of 18.60% and a net margin of 18.25%.

Institutional Investors Weigh In On TC Energy

A number of hedge funds have recently added to or reduced their stakes in TRP. EdgeRock Capital LLC bought a new stake in TC Energy in the fourth quarter worth approximately $25,000. Bruce G. Allen Investments LLC bought a new stake in TC Energy in the fourth quarter worth approximately $26,000. Creekmur Asset Management LLC bought a new stake in TC Energy in the fourth quarter worth approximately $27,000. Glassman Wealth Services increased its holdings in TC Energy by 61.0% in the fourth quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 275 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new stake in TC Energy in the fourth quarter valued at approximately $31,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a $0.714 dividend. 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 yield of 7.92%. The ex-dividend date is Wednesday, March 27th. TC Energy’s payout ratio is presently 139.41%.

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.