TC Energy Co. (NYSE:TRP) to Post Q1 2024 Earnings of $0.83 Per Share, National Bank Financial Forecasts

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Equities researchers at National Bank Financial issued their Q1 2024 EPS estimates for TC Energy in a research note issued to investors on Tuesday, April 23rd. National Bank Financial analyst P. Kenny anticipates that the pipeline company will post earnings of $0.83 per share for the quarter. The consensus estimate for TC Energy’s current full-year earnings is $2.89 per share.

TRP has been the topic of several other research reports. The Goldman Sachs Group boosted their target price on shares of TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research note on Friday, January 26th. Jefferies Financial Group began coverage on TC Energy in a report on Tuesday, February 27th. They issued a “hold” rating for the company. Barclays lifted their price target on TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. TheStreet raised TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. Finally, Stifel Nicolaus began coverage on TC Energy in a report on Thursday, January 18th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, TC Energy presently has a consensus rating of “Hold” and an average price target of $48.83.

TC Energy Stock Down 0.1 %

Shares of NYSE:TRP opened at $36.07 on Thursday. TC Energy has a 52 week low of $32.51 and a 52 week high of $42.49. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 0.96. The company’s fifty day moving average is $38.83 and its 200-day moving average is $38.04. The company has a market capitalization of $36.07 billion, a PE ratio of 17.77, a P/E/G ratio of 3.11 and a beta of 0.75.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results 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 company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.93 billion.

Institutional Trading of TC Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRP. Allspring Global Investments Holdings LLC grew its position in shares of TC Energy by 29,994.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 309,376 shares of the pipeline company’s stock worth $12,094,000 after buying an additional 308,348 shares during the period. Addenda Capital Inc. grew its position in shares of TC Energy by 2.5% during the 4th quarter. Addenda Capital Inc. now owns 1,089,146 shares of the pipeline company’s stock worth $42,575,000 after buying an additional 26,711 shares during the period. Morgan Stanley grew its position in shares of TC Energy by 42.5% during the 3rd quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company’s stock worth $234,719,000 after buying an additional 2,034,846 shares during the period. Mondrian Investment Partners LTD grew its position in shares of TC Energy by 9.3% during the 3rd quarter. Mondrian Investment Partners LTD now owns 7,231,694 shares of the pipeline company’s stock worth $248,843,000 after buying an additional 618,040 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of TC Energy by 6.5% during the 3rd quarter. Van ECK Associates Corp now owns 296,979 shares of the pipeline company’s stock worth $10,218,000 after buying an additional 18,213 shares during the period. 83.13% of the stock is owned by institutional investors.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.714 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.67. This represents a $2.86 annualized dividend and a yield of 7.92%. The ex-dividend date of this dividend is Wednesday, March 27th. TC Energy’s payout ratio is currently 139.41%.

About TC Energy

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.