TC Energy Co. to Post FY2024 Earnings of $2.93 Per Share, Zacks Research Forecasts (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Investment analysts at Zacks Research upped their FY2024 earnings per share (EPS) estimates for shares of TC Energy in a report issued on Tuesday, July 23rd. Zacks Research analyst T. Saha now expects that the pipeline company will earn $2.93 per share for the year, up from their previous forecast of $2.89. The consensus estimate for TC Energy’s current full-year earnings is $3.03 per share. Zacks Research also issued estimates for TC Energy’s Q2 2026 earnings at $0.75 EPS.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.83 by $0.09. The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.12 billion. TC Energy had a return on equity of 17.94% and a net margin of 17.23%.

Separately, Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $48.83.

TC Energy Trading Up 0.2 %

NYSE:TRP opened at $41.49 on Wednesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.94 and a quick ratio of 0.85. The firm has a market capitalization of $41.49 billion, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 3.41 and a beta of 0.79. TC Energy has a one year low of $32.51 and a one year high of $42.04. The business has a fifty day moving average price of $38.92 and a 200-day moving average price of $38.75.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. EdgeRock Capital LLC bought a new position in shares of TC Energy in the 4th quarter valued at about $25,000. Creekmur Asset Management LLC bought a new position in shares of TC Energy in the 4th quarter valued at about $27,000. Glassman Wealth Services lifted its holdings in shares of TC Energy by 61.0% in the 4th quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 275 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new position in shares of TC Energy in the 4th quarter valued at about $31,000. Finally, Mather Group LLC. bought a new position in shares of TC Energy in the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a $0.71 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.84 dividend on an annualized basis and a yield of 6.85%. TC Energy’s payout ratio is presently 144.33%.

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.