TC Energy Co. (NYSE:TRP) Expected to Post Q2 2023 Earnings of $0.72 Per Share

TC Energy Co. (NYSE:TRP – Get Rating) (TSE:TRP) – Analysts at US Capital Advisors lowered their Q2 2023 earnings per share (EPS) estimates for shares of TC Energy in a research report issued to clients and investors on Friday, May 19th. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings of $0.72 per share for the quarter, down from their prior forecast of $0.73. The consensus estimate for TC Energy’s current full-year earnings is $3.07 per share. US Capital Advisors also issued estimates for TC Energy’s Q3 2023 earnings at $0.72 EPS, Q4 2023 earnings at $0.82 EPS, FY2023 earnings at $3.21 EPS, Q1 2024 earnings at $0.74 EPS, Q3 2024 earnings at $0.63 EPS, Q4 2024 earnings at $0.74 EPS and FY2025 earnings at $2.96 EPS.

Several other equities analysts also recently weighed in on the company. TheStreet upgraded TC Energy from a “c” rating to a “b-” rating in a report on Friday, April 28th. TD Securities decreased their target price on shares of TC Energy from C$71.00 to C$68.00 in a report on Wednesday, February 15th. Royal Bank of Canada dropped their target price on shares of TC Energy from C$73.00 to C$65.00 in a research note on Thursday, February 2nd. StockNews.com assumed coverage on shares of TC Energy in a research report on Thursday. They set a “hold” rating for the company. Finally, BMO Capital Markets cut their target price on TC Energy from C$66.00 to C$64.00 in a research note on Thursday, February 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.06.

TC Energy Stock Up 0.5 %

Shares of NYSE:TRP opened at $40.26 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.67 and a debt-to-equity ratio of 1.76. The stock has a fifty day simple moving average of $40.28 and a two-hundred day simple moving average of $41.81. TC Energy has a 12-month low of $36.79 and a 12-month high of $59.38. The stock has a market capitalization of $41.45 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 3.28 and a beta of 0.84.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, June 30th will be given a $0.688 dividend. This represents a $2.75 dividend on an annualized basis and a yield of 6.84%. The ex-dividend date of this dividend is Thursday, June 29th. TC Energy’s dividend payout ratio (DPR) is presently 220.00%.

Institutional Trading of TC Energy

Several large investors have recently modified their holdings of TRP. American Century Companies Inc. increased its position in shares of TC Energy by 4.4% during the 1st quarter. American Century Companies Inc. now owns 27,957 shares of the pipeline company’s stock valued at $1,577,000 after purchasing an additional 1,188 shares during the last quarter. Cetera Advisor Networks LLC raised its position in TC Energy by 6.0% in the first quarter. Cetera Advisor Networks LLC now owns 5,664 shares of the pipeline company’s stock worth $320,000 after acquiring an additional 323 shares during the period. BlackRock Inc. raised its position in TC Energy by 43.9% in the first quarter. BlackRock Inc. now owns 878,551 shares of the pipeline company’s stock worth $49,567,000 after acquiring an additional 267,934 shares during the period. Sei Investments Co. grew its position in shares of TC Energy by 40.4% during the 1st quarter. Sei Investments Co. now owns 110,816 shares of the pipeline company’s stock valued at $6,252,000 after acquiring an additional 31,882 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of TC Energy by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 33,256,822 shares of the pipeline company’s stock worth $1,876,349,000 after purchasing an additional 993,965 shares in the last quarter. Institutional investors own 71.86% of the company’s stock.

TC Energy Company Profile

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TC Energy Corporation engages in the provision of energy infrastructure services. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, Power and Energy Solutions, and Corporate. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines.