Q2 2024 Earnings Forecast for TC Energy Co. (NYSE:TRP) Issued By US Capital Advisors

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Analysts at US Capital Advisors raised their Q2 2024 earnings per share estimates for shares of TC Energy in a report issued on Monday, April 29th. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings of $0.68 per share for the quarter, up from their prior forecast of $0.67. The consensus estimate for TC Energy’s current full-year earnings is $2.91 per share. US Capital Advisors also issued estimates for TC Energy’s Q3 2024 earnings at $0.69 EPS, Q4 2024 earnings at $0.76 EPS and FY2024 earnings at $2.91 EPS.

Several other equities analysts also recently weighed in on the company. Jefferies Financial Group assumed coverage on TC Energy in a research report on Tuesday, February 27th. They set a “hold” rating on the stock. 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 research report on Wednesday, March 20th. The Goldman Sachs Group boosted 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. Finally, Barclays boosted their price objective on TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. 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. According to data from MarketBeat.com, TC Energy presently has an average rating of “Hold” and a consensus price target of $48.83.

TC Energy Stock Performance

NYSE TRP opened at $37.61 on Thursday. The company has a market cap of $37.61 billion, a P/E ratio of 18.53, a P/E/G ratio of 3.07 and a beta of 0.76. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 0.96. The business’s 50 day moving average price is $38.53 and its 200-day moving average price is $38.07. TC Energy has a fifty-two week low of $32.51 and a fifty-two week high of $42.49.

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 (EPS) for the quarter, topping 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 business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.93 billion.

Institutional Investors Weigh In On TC Energy

Several hedge funds have recently made changes to their positions in TRP. Allspring Global Investments Holdings LLC lifted its stake in shares of TC Energy by 29,994.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 309,376 shares of the pipeline company’s stock worth $12,094,000 after purchasing an additional 308,348 shares during the last quarter. Addenda Capital Inc. lifted its stake in shares of TC Energy by 2.5% during the 4th quarter. Addenda Capital Inc. now owns 1,089,146 shares of the pipeline company’s stock worth $42,575,000 after purchasing an additional 26,711 shares during the last quarter. Morgan Stanley lifted its stake in shares of TC Energy by 42.5% during the 3rd quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company’s stock worth $234,719,000 after purchasing an additional 2,034,846 shares during the last quarter. Mondrian Investment Partners LTD lifted its stake in shares of TC Energy by 9.3% during the 3rd quarter. Mondrian Investment Partners LTD now owns 7,231,694 shares of the pipeline company’s stock worth $248,843,000 after purchasing an additional 618,040 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of TC Energy by 6.5% during the 3rd quarter. Van ECK Associates Corp now owns 296,979 shares of the pipeline company’s stock worth $10,218,000 after purchasing an additional 18,213 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were issued a $0.714 dividend. This represents a $2.86 annualized dividend and a dividend yield of 7.59%. This is a boost from TC Energy’s previous quarterly dividend of $0.67. The ex-dividend date was Wednesday, March 27th. TC Energy’s dividend payout ratio is currently 139.41%.

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.