TC Energy Co. to Post Q1 2024 Earnings of $0.79 Per Share, US Capital Advisors Forecasts (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Stock analysts at US Capital Advisors upped their Q1 2024 earnings per share (EPS) estimates for TC Energy in a report released on Monday, April 29th. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings of $0.79 per share for the quarter, up from their prior forecast of $0.78. The consensus estimate for TC Energy’s current full-year earnings is $2.90 per share. US Capital Advisors also issued estimates for TC Energy’s Q1 2025 earnings at $0.73 EPS, Q2 2025 earnings at $0.65 EPS, Q3 2025 earnings at $0.75 EPS, Q4 2025 earnings at $0.77 EPS and FY2026 earnings at $2.84 EPS.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.20. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.93 billion. TC Energy had a return on equity of 18.60% and a net margin of 18.25%.

A number of other equities research analysts also recently commented on TRP. The Goldman Sachs Group lifted their price objective on TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research report on Friday, January 26th. Jefferies Financial Group started coverage on TC Energy in a research note on Tuesday, February 27th. They set a “hold” rating for the company. Barclays upped their price target on TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. Finally, Stifel Nicolaus started coverage on TC Energy in a research note on Thursday, January 18th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $48.83.

TC Energy Price Performance

Shares of NYSE:TRP opened at $35.73 on Wednesday. The company has a market cap of $35.73 billion, a P/E ratio of 17.60, a P/E/G ratio of 3.10 and a beta of 0.75. The company has a quick ratio of 0.88, a current ratio of 0.96 and a debt-to-equity ratio of 1.65. TC Energy has a 52 week low of $32.51 and a 52 week high of $42.49. The business has a fifty day simple moving average of $38.60 and a 200-day simple moving average of $38.09.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. EdgeRock Capital LLC bought a new position in TC Energy during the 4th quarter worth approximately $25,000. Bruce G. Allen Investments LLC bought a new position in TC Energy during the 4th quarter worth approximately $26,000. Creekmur Asset Management LLC acquired a new stake in shares of TC Energy during the 4th quarter worth approximately $27,000. Glassman Wealth Services raised its position in shares of TC Energy by 61.0% during the 4th quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 275 shares during the period. Finally, OLD Point Trust & Financial Services N A acquired a new stake in shares of TC Energy during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were paid a $0.714 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 7.99%. This is a positive change from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s dividend payout ratio (DPR) is 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.