TC Energy FY2024 EPS Estimate Reduced by Atb Cap Markets

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Stock analysts at Atb Cap Markets cut their FY2024 earnings estimates for TC Energy in a research note issued to investors on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now anticipates that the pipeline company will post earnings of $2.86 per share for the year, down from their prior estimate of $3.00. The consensus estimate for TC Energy’s current full-year earnings is $3.02 per share.

A number of other brokerages have also recently issued reports on TRP. Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group lifted their target price on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. StockNews.com initiated coverage on shares of TC Energy in a research report on Saturday, October 5th. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $48.50.

TC Energy Stock Down 1.0 %

TRP stock opened at $46.95 on Thursday. The company has a market cap of $48.72 billion, a P/E ratio of 19.24, a P/E/G ratio of 3.92 and a beta of 0.81. TC Energy has a 52 week low of $30.61 and a 52 week high of $48.25. The company’s 50-day moving average price is $46.08 and its 200 day moving average price is $41.40. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same quarter in the previous year, the firm earned $0.71 earnings per share.

Hedge Funds Weigh In On TC Energy

Institutional investors and hedge funds have recently modified their holdings of the company. EdgeRock Capital LLC purchased a new position in shares of TC Energy during the second quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of TC Energy by 138.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after buying an additional 429 shares during the period. Blue Trust Inc. lifted its stake in shares of TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after buying an additional 267 shares during the period. Mather Group LLC. purchased a new position in shares of TC Energy during the second quarter valued at approximately $33,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of TC Energy during the second quarter valued at approximately $51,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a dividend of $0.702 per share. This represents a $2.81 annualized dividend and a dividend yield of 5.98%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s payout ratio is 116.80%.

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.