TC Energy Co. to Post Q4 2023 Earnings of $0.81 Per Share, National Bank Financial Forecasts (NYSE:TRP)

TC Energy Co. (NYSE:TRPFree Report) (TSE:TRP) – Equities research analysts at National Bank Financial issued their Q4 2023 earnings per share estimates for shares of TC Energy in a report released on Tuesday, February 6th. National Bank Financial analyst P. Kenny anticipates that the pipeline company will earn $0.81 per share for the quarter. The consensus estimate for TC Energy’s current full-year earnings is $3.13 per share.

TC Energy (NYSE:TRPGet Free Report) (TSE:TRP) last issued its quarterly earnings data on Wednesday, November 8th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.71 by $0.04. The firm had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.76 billion. TC Energy had a return on equity of 18.19% and a net margin of 0.10%.

Several other analysts also recently commented on the company. Wolfe Research raised TC Energy from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, October 17th. The Goldman Sachs Group increased their price target on TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research report on Friday, January 26th. Barclays increased their price target on TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Wells Fargo & Company raised TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, October 25th. Finally, Stifel Nicolaus started coverage on TC Energy in a report on Thursday, January 18th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, TC Energy presently has an average rating of “Hold” and an average price target of $48.83.

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TC Energy Stock Performance

Shares of TC Energy stock opened at $37.74 on Thursday. The company has a market cap of $37.74 billion, a PE ratio of -629.00, a price-to-earnings-growth ratio of 3.16 and a beta of 0.76. TC Energy has a 52 week low of $32.51 and a 52 week high of $42.80. The business has a 50 day moving average price of $39.04 and a 200-day moving average price of $36.90. The company has a quick ratio of 0.75, a current ratio of 0.86 and a debt-to-equity ratio of 43.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can bought a new position in shares of TC Energy during the 2nd quarter valued at about $2,243,924,000. Vanguard Group Inc. boosted its holdings in shares of TC Energy by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 39,625,940 shares of the pipeline company’s stock valued at $1,363,529,000 after purchasing an additional 1,344,000 shares during the last quarter. Capital International Investors boosted its holdings in shares of TC Energy by 1.3% during the 2nd quarter. Capital International Investors now owns 34,924,369 shares of the pipeline company’s stock valued at $1,411,027,000 after purchasing an additional 461,056 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of TC Energy by 18.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 24,574,983 shares of the pipeline company’s stock valued at $849,037,000 after buying an additional 3,740,495 shares in the last quarter. Finally, National Bank of Canada FI raised its position in shares of TC Energy by 68.2% during the 3rd quarter. National Bank of Canada FI now owns 19,993,928 shares of the pipeline company’s stock valued at $668,801,000 after buying an additional 8,103,785 shares in the last quarter. Institutional investors own 73.67% of the company’s stock.

About TC Energy

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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 93,700 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.

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Earnings History and Estimates for TC Energy (NYSE:TRP)

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