TC Energy Co. (NYSE:TRP) Expected to Post Q1 2024 Earnings of $0.79 Per Share

TC Energy Co. (NYSE:TRP) (TSE:TRP) – US Capital Advisors boosted their Q1 2024 EPS estimates for shares of 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 posted its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.20. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.93 billion. TC Energy had a net margin of 18.25% and a return on equity of 18.60%.

TRP has been the subject of a number of other reports. The Goldman Sachs Group upped their price target on shares of TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. Jefferies Financial Group assumed coverage on shares of TC Energy in a research note on Tuesday, February 27th. They issued a “hold” rating for the company. Barclays upped their price target on shares of TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Finally, Stifel Nicolaus initiated coverage on shares of 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 issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, TC Energy has a consensus rating of “Hold” and an average price target of $48.83.

TC Energy Trading Down 0.4 %

TC Energy stock opened at $35.84 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.96 and a debt-to-equity ratio of 1.65. The firm has a 50-day moving average price of $38.68 and a two-hundred day moving average price of $38.10. The firm has a market capitalization of $35.84 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 3.10 and a beta of 0.75. TC Energy has a 52-week low of $32.51 and a 52-week high of $42.49.

Institutional Investors Weigh In On TC Energy

A number of large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in TC Energy by 29,994.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 309,376 shares of the pipeline company’s stock valued at $12,094,000 after buying an additional 308,348 shares during the period. Addenda Capital Inc. increased its stake in TC Energy by 2.5% in the 4th quarter. Addenda Capital Inc. now owns 1,089,146 shares of the pipeline company’s stock valued at $42,575,000 after buying an additional 26,711 shares during the period. Morgan Stanley increased its stake in TC Energy by 42.5% in the 3rd quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company’s stock valued at $234,719,000 after buying an additional 2,034,846 shares during the period. Mondrian Investment Partners LTD increased its stake in TC Energy by 9.3% in the 3rd quarter. Mondrian Investment Partners LTD now owns 7,231,694 shares of the pipeline company’s stock valued at $248,843,000 after buying an additional 618,040 shares during the period. Finally, Van ECK Associates Corp increased its stake in TC Energy by 6.5% in the 3rd quarter. Van ECK Associates Corp now owns 296,979 shares of the pipeline company’s stock valued at $10,218,000 after buying an additional 18,213 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.714 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 7.97%. This is a positive change from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s payout ratio is currently 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.