TC Energy Co. Expected to Post Q2 2024 Earnings of $0.63 Per Share (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Equities researchers at Zacks Research cut their Q2 2024 earnings per share estimates for shares of TC Energy in a report released on Wednesday, April 24th. Zacks Research analyst T. Saha now forecasts that the pipeline company will earn $0.63 per share for the quarter, down from their prior estimate of $0.64. The consensus estimate for TC Energy’s current full-year earnings is $2.89 per share. Zacks Research also issued estimates for TC Energy’s Q1 2025 earnings at $0.79 EPS, Q2 2025 earnings at $0.66 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.72 EPS, FY2025 earnings at $2.76 EPS, Q1 2026 earnings at $0.79 EPS and FY2026 earnings at $2.93 EPS.

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

TC Energy Stock Down 0.1 %

TRP opened at $36.07 on Thursday. The firm has a 50-day simple moving average of $38.83 and a two-hundred day simple moving average of $38.04. TC Energy has a 52 week low of $32.51 and a 52 week high of $42.49. The company has a market capitalization of $36.07 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 3.11 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 (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.79 by $0.20. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.93 billion.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.714 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Wednesday, March 27th. 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 presently 139.41%.

Institutional Trading of TC Energy

Several institutional investors have recently added to or reduced their stakes in the company. Triasima Portfolio Management inc. lifted its stake in TC Energy by 29.0% in the first quarter. Triasima Portfolio Management inc. now owns 192,600 shares of the pipeline company’s stock worth $7,741,000 after purchasing an additional 43,350 shares during the last quarter. Mesirow Financial Investment Management Inc. bought a new stake in TC Energy in the first quarter worth about $415,000. Verdence Capital Advisors LLC lifted its stake in TC Energy by 61.3% in the first quarter. Verdence Capital Advisors LLC now owns 25,709 shares of the pipeline company’s stock worth $1,033,000 after purchasing an additional 9,766 shares during the last quarter. Lindbrook Capital LLC lifted its stake in TC Energy by 70.9% in the first quarter. Lindbrook Capital LLC now owns 21,529 shares of the pipeline company’s stock worth $865,000 after purchasing an additional 8,930 shares during the last quarter. Finally, Simplicity Wealth LLC bought a new stake in TC Energy in the first quarter worth about $4,992,000. Institutional investors own 83.13% of the company’s stock.

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.