Q2 2024 EPS Estimates for TC Energy Co. Increased by Analyst (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Analysts at Atb Cap Markets increased their Q2 2024 EPS estimates for TC Energy in a research note issued to investors on Monday, May 6th. Atb Cap Markets analyst N. Heywood now expects that the pipeline company will post earnings of $0.68 per share for the quarter, up from their previous forecast of $0.65. The consensus estimate for TC Energy’s current full-year earnings is $2.90 per share. Atb Cap Markets also issued estimates for TC Energy’s Q3 2024 earnings at $0.72 EPS, FY2024 earnings at $3.10 EPS, Q1 2025 earnings at $0.92 EPS, Q2 2025 earnings at $0.70 EPS, Q3 2025 earnings at $0.76 EPS and Q4 2025 earnings at $0.88 EPS.

TC Energy (NYSE:TRP) (TSE:TRP) last issued 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 net margin of 17.23% and a return on equity of 20.63%. The firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.93 billion.

Other equities analysts also recently issued research reports about the company. Barclays increased their price target on TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Jefferies Financial Group assumed coverage on shares of TC Energy in a research report on Tuesday, February 27th. They set a “hold” rating for the company. Stifel Nicolaus started coverage on TC Energy in a research report on Thursday, January 18th. They issued 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. Finally, 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 note 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. According to MarketBeat.com, TC Energy currently has a consensus rating of “Hold” and a consensus target price of $48.83.

TC Energy Stock Performance

Shares of NYSE TRP opened at $37.87 on Thursday. The business’s 50-day simple moving average is $38.42 and its 200-day simple moving average is $38.18. TC Energy has a 52 week low of $32.51 and a 52 week high of $42.42. 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 firm has a market cap of $37.87 billion, a price-to-earnings ratio of 19.52, a P/E/G ratio of 3.24 and a beta of 0.76.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.50%. The ex-dividend date is Friday, June 28th. TC Energy’s dividend payout ratio is presently 145.88%.

Hedge Funds Weigh In On TC Energy

Hedge funds have recently made changes to their positions in the business. Souders Financial Advisors acquired a new position in TC Energy during the first quarter worth $3,325,000. TD Asset Management Inc grew its holdings in shares of TC Energy by 9.5% in the 1st quarter. TD Asset Management Inc now owns 16,763,150 shares of the pipeline company’s stock worth $674,366,000 after purchasing an additional 1,458,732 shares during the last quarter. Bleakley Financial Group LLC increased its position in shares of TC Energy by 8.8% during the 1st quarter. Bleakley Financial Group LLC now owns 124,228 shares of the pipeline company’s stock worth $4,994,000 after purchasing an additional 10,044 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of TC Energy by 0.3% during the 1st quarter. Russell Investments Group Ltd. now owns 1,262,444 shares of the pipeline company’s stock worth $50,785,000 after purchasing an additional 3,801 shares in the last quarter. Finally, Headlands Technologies LLC lifted its holdings in TC Energy by 49,890.3% during the 1st quarter. Headlands Technologies LLC now owns 15,497 shares of the pipeline company’s stock valued at $623,000 after purchasing an additional 15,466 shares during the last quarter. 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.