TC Energy Co. (NYSE:TRP) Expected to Earn Q1 2024 Earnings of $0.86 Per Share

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Analysts at Atb Cap Markets decreased their Q1 2024 earnings per share (EPS) estimates for shares of TC Energy in a research report issued on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now anticipates that the pipeline company will post earnings per share of $0.86 for the quarter, down from their prior estimate of $0.90. The consensus estimate for TC Energy’s current full-year earnings is $2.89 per share. Atb Cap Markets also issued estimates for TC Energy’s FY2024 earnings at $3.03 EPS.

A number of other research analysts have also recently issued reports on TRP. Jefferies Financial Group assumed coverage on TC Energy in a research note on Tuesday, February 27th. They set a “hold” rating for the company. The Goldman Sachs Group lifted their price objective on TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research note on Friday, January 26th. Barclays lifted their price objective on TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Stifel Nicolaus assumed coverage on TC Energy in a research note on Thursday, January 18th. They set a “buy” rating for the company. Finally, TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. One equities 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $48.83.

TC Energy Trading Down 0.1 %

TRP opened at $36.07 on Thursday. The business has a 50 day moving average of $38.83 and a 200-day moving average of $38.04. The stock has a market cap of $36.07 billion, a PE ratio of 17.77, a PEG ratio of 3.11 and a beta of 0.75. TC Energy has a 52 week low of $32.51 and a 52 week high of $42.49. 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 earnings results on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.20. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.93 billion. TC Energy had a return on equity of 18.60% and a net margin of 18.25%.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a $0.714 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.67. The ex-dividend date 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

Institutional investors and hedge funds have recently modified their holdings of the business. EdgeRock Capital LLC bought a new stake in shares of TC Energy in the fourth quarter worth $25,000. Bruce G. Allen Investments LLC bought a new stake in shares of TC Energy in the fourth quarter worth $26,000. Creekmur Asset Management LLC bought a new stake in shares of TC Energy in the fourth quarter worth $27,000. Glassman Wealth Services grew its holdings in shares of TC Energy by 61.0% in the fourth quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 275 shares during the period. Finally, OLD Point Trust & Financial Services N A bought a new stake in shares of TC Energy in the fourth quarter worth $31,000. 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.