Analysts Issue Forecasts for TC Energy Q3 Earnings

TC Energy Co. (NYSE:TRP) (TSE:TRP) – National Bank Financial issued their Q3 2024 earnings estimates for TC Energy in a research report issued on Wednesday, October 23rd. National Bank Financial analyst P. Kenny anticipates that the pipeline company will post earnings of $0.73 per share for the quarter. The consensus estimate for TC Energy’s current full-year earnings is $3.02 per share.

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

Several other research firms have also commented on TRP. StockNews.com started coverage on TC Energy in a research report on Saturday, October 5th. They set a “hold” rating on the stock. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday. The Goldman Sachs Group boosted their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. Finally, Veritas upgraded TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, TC Energy currently has an average rating of “Hold” and an average target price of $48.50.

TC Energy Trading Up 0.6 %

Shares of TRP opened at $47.26 on Friday. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. TC Energy has a 12 month low of $30.61 and a 12 month high of $48.25. The stock has a market cap of $47.26 billion, a PE ratio of 24.36, a P/E/G ratio of 3.92 and a beta of 0.81. The stock’s 50-day moving average is $46.20 and its two-hundred day moving average is $41.50.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a $0.702 dividend. This represents a $2.81 annualized dividend and a dividend yield of 5.94%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s payout ratio is currently 146.39%.

Institutional Trading of TC Energy

Several institutional investors and hedge funds have recently bought and sold shares of TRP. Capital Research Global Investors raised its holdings in shares of TC Energy by 2.7% during the first quarter. Capital Research Global Investors now owns 57,170,304 shares of the pipeline company’s stock worth $2,297,701,000 after purchasing an additional 1,492,315 shares during the period. Vanguard Group Inc. raised its stake in TC Energy by 1.6% during the first quarter. Vanguard Group Inc. now owns 41,057,330 shares of the pipeline company’s stock worth $1,650,505,000 after acquiring an additional 653,031 shares during the period. Canada Pension Plan Investment Board lifted its holdings in TC Energy by 107.1% in the second quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock worth $737,609,000 after acquiring an additional 10,065,000 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in TC Energy by 94.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company’s stock worth $688,534,000 after acquiring an additional 8,339,800 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in TC Energy by 9.5% in the first quarter. TD Asset Management Inc now owns 16,763,150 shares of the pipeline company’s stock valued at $674,366,000 after acquiring an additional 1,458,732 shares during the period. Institutional investors and hedge funds 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.