$0.76 EPS Expected for TC Energy Co. (NYSE:TRP) This Quarter

Wall Street brokerages forecast that TC Energy Co. (NYSE:TRP) (TSE:TRP) will post earnings per share (EPS) of $0.76 for the current quarter, according to Zacks. Zero analysts have provided estimates for TC Energy’s earnings. The lowest EPS estimate is $0.73 and the highest is $0.79. TC Energy posted earnings of $0.71 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 7%. The firm is expected to issue its next quarterly earnings results on Thursday, November 4th.

On average, analysts expect that TC Energy will report full-year earnings of $3.38 per share for the current year, with EPS estimates ranging from $3.32 to $3.45. For the next financial year, analysts expect that the business will post earnings of $3.33 per share, with EPS estimates ranging from $3.10 to $3.50. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for TC Energy.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, July 29th. The pipeline company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.11. The company had revenue of $2.59 billion for the quarter. TC Energy had a net margin of 16.25% and a return on equity of 14.84%.

Several brokerages have recently issued reports on TRP. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a C$68.00 target price on shares of TC Energy in a research note on Monday, August 23rd. The Goldman Sachs Group lowered shares of TC Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $75.00 to $63.00 in a research note on Monday, September 13th. CIBC raised their target price on shares of TC Energy from C$70.00 to C$74.00 and gave the company an “outperform” rating in a research note on Friday, June 18th. Finally, Morgan Stanley lowered shares of TC Energy from an “overweight” rating to an “equal weight” rating and set a $76.00 target price on the stock. in a research note on Tuesday, July 20th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $69.25.

Shares of NYSE TRP traded down $0.09 during mid-day trading on Friday, hitting $49.16. The company’s stock had a trading volume of 2,446,034 shares, compared to its average volume of 1,882,811. The stock has a market cap of $48.14 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 2.37 and a beta of 0.79. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.61 and a quick ratio of 0.55. TC Energy has a one year low of $38.80 and a one year high of $53.65. The company’s fifty day simple moving average is $48.28 and its 200-day simple moving average is $48.77.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 29th. Shareholders of record on Thursday, September 30th will be issued a dividend of $0.6917 per share. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $2.77 annualized dividend and a yield of 5.63%. TC Energy’s dividend payout ratio (DPR) is currently 91.72%.

Hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC raised its holdings in TC Energy by 123.8% during the 2nd quarter. Parallel Advisors LLC now owns 508 shares of the pipeline company’s stock worth $25,000 after buying an additional 281 shares during the period. Allred Capital Management LLC bought a new position in shares of TC Energy during the 1st quarter worth approximately $27,000. Rockefeller Capital Management L.P. grew its stake in shares of TC Energy by 54.4% during the 1st quarter. Rockefeller Capital Management L.P. now owns 715 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 252 shares in the last quarter. Eudaimonia Partners LLC grew its stake in shares of TC Energy by 65.3% during the 1st quarter. Eudaimonia Partners LLC now owns 1,284 shares of the pipeline company’s stock worth $59,000 after acquiring an additional 507 shares in the last quarter. Finally, Aspire Private Capital LLC bought a new position in shares of TC Energy during the 2nd quarter worth approximately $64,000. Hedge funds and other institutional investors own 69.40% of the company’s stock.

TC Energy Company Profile

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 Storage, and Corporate. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines.

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

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