TC Energy Co. (NYSE:TRP) Expected to Earn Q1 2024 Earnings of $0.86 Per Share

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Equities researchers at Atb Cap Markets dropped their Q1 2024 earnings per share (EPS) estimates for shares of TC Energy in a report released on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now expects that the pipeline company will post earnings per share of $0.86 for the quarter, down from their prior forecast of $0.90. The consensus estimate for TC Energy’s current full-year earnings is $2.89 per share. Atb Cap Markets also issued estimates for TC Energy’s FY2024 earnings at $3.03 EPS.

A number of other equities analysts have also issued reports on the company. Stifel Nicolaus initiated coverage on TC Energy in a research note on Thursday, January 18th. They issued a “buy” rating for the company. Jefferies Financial Group started coverage on TC Energy in a research note on Tuesday, February 27th. They issued a “hold” rating for the company. TheStreet raised TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. Barclays increased their price target on TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Finally, The Goldman Sachs Group increased their price target on 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 given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $48.83.

TC Energy Stock Performance

Shares of TRP stock opened at $36.07 on Thursday. The firm has a market capitalization of $36.07 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 3.11 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. The business has a fifty day moving average of $38.83 and a 200 day moving average of $38.04. 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 issued its earnings results 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. The company had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.93 billion. TC Energy had a return on equity of 18.60% and a net margin of 18.25%.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.714 per share. The ex-dividend date is Wednesday, March 27th. This is a boost from TC Energy’s previous quarterly dividend of $0.67. This represents a $2.86 dividend on an annualized basis and a dividend yield of 7.92%. TC Energy’s dividend payout ratio (DPR) is 139.41%.

Institutional Investors Weigh In On TC Energy

A number of institutional investors have recently modified their holdings of TRP. IFP Advisors Inc boosted its holdings in TC Energy by 74.8% in the 3rd quarter. IFP Advisors Inc now owns 3,455 shares of the pipeline company’s stock worth $119,000 after buying an additional 1,478 shares during the last quarter. SG Americas Securities LLC boosted its holdings in TC Energy by 747.1% in the 3rd quarter. SG Americas Securities LLC now owns 22,627 shares of the pipeline company’s stock worth $779,000 after buying an additional 19,956 shares during the last quarter. DAVENPORT & Co LLC boosted its holdings in TC Energy by 2.5% in the 3rd quarter. DAVENPORT & Co LLC now owns 87,614 shares of the pipeline company’s stock worth $3,027,000 after buying an additional 2,110 shares during the last quarter. Private Trust Co. NA boosted its holdings in TC Energy by 10.2% in the 3rd quarter. Private Trust Co. NA now owns 5,817 shares of the pipeline company’s stock worth $200,000 after buying an additional 540 shares during the last quarter. Finally, Hennessy Advisors Inc. boosted its holdings in TC Energy by 15.6% in the 3rd quarter. Hennessy Advisors Inc. now owns 679,200 shares of the pipeline company’s stock worth $23,371,000 after buying an additional 91,600 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

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.