Q3 2024 EPS Estimates for TC Energy Co. Decreased by Analyst (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Research analysts at Zacks Research dropped their Q3 2024 earnings per share estimates for shares of TC Energy in a report issued on Wednesday, April 24th. Zacks Research analyst T. Saha now forecasts that the pipeline company will earn $0.67 per share for the quarter, down from their previous estimate of $0.68. 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 Q4 2024 earnings at $0.76 EPS and FY2024 earnings at $2.89 EPS.

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

TC Energy Stock Performance

TC Energy stock opened at $36.10 on Friday. The firm has a 50 day simple moving average of $38.83 and a 200-day simple moving average of $38.07. The stock has a market cap of $36.10 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 3.12 and a beta of 0.75. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88. TC Energy has a 1-year low of $32.51 and a 1-year high of $42.49.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, topping 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 the consensus estimate of $2.93 billion.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.714 per share. This represents a $2.86 dividend on an annualized basis and a yield of 7.91%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s payout ratio is 139.41%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TRP. EdgeRock Capital LLC purchased a new stake in shares of TC Energy during the 4th quarter valued at approximately $25,000. Bruce G. Allen Investments LLC bought a new stake in shares of TC Energy during the 4th quarter valued at $26,000. Creekmur Asset Management LLC purchased a new stake in TC Energy during the 4th quarter worth about $27,000. Glassman Wealth Services boosted its stake in TC Energy by 61.0% in the 4th quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 275 shares during the period. Finally, OLD Point Trust & Financial Services N A bought a new stake in shares of TC Energy during the fourth quarter valued at about $31,000. 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.