Q3 2024 Earnings Estimate for TC Energy Co. Issued By Zacks Research (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Equities researchers at Zacks Research lifted their Q3 2024 EPS estimates for TC Energy in a note issued to investors on Tuesday, September 10th. Zacks Research analyst T. Saha now expects that the pipeline company will post earnings per share of $0.65 for the quarter, up from their previous forecast of $0.64. The consensus estimate for TC Energy’s current full-year earnings is $3.06 per share. Zacks Research also issued estimates for TC Energy’s FY2024 earnings at $3.04 EPS, Q3 2025 earnings at $0.81 EPS, Q4 2025 earnings at $0.76 EPS and FY2025 earnings at $3.05 EPS.

Separately, Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, TC Energy presently has an average rating of “Hold” and a consensus target price of $43.50.

TC Energy Stock Down 2.7 %

Shares of TRP opened at $45.80 on Wednesday. The stock has a 50 day moving average price of $42.75 and a 200 day moving average price of $40.01. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. The stock has a market capitalization of $47.52 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 3.81 and a beta of 0.81. TC Energy has a one year low of $32.51 and a one year high of $47.38.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period last year, the company posted $0.71 EPS.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a dividend of $0.702 per share. This represents a $2.81 annualized dividend and a dividend yield of 6.13%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s payout ratio is presently 144.85%.

Hedge Funds Weigh In On TC Energy

Large investors have recently modified their holdings of the business. Murchinson Ltd. acquired a new stake in shares of TC Energy in the first quarter valued at $506,485,000. Capital Research Global Investors boosted its stake in shares of TC Energy by 23.7% in the fourth quarter. Capital Research Global Investors now owns 55,677,989 shares of the pipeline company’s stock valued at $2,174,931,000 after purchasing an additional 10,654,993 shares during the period. Canada Pension Plan Investment Board increased its stake in TC Energy by 107.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock worth $737,609,000 after buying an additional 10,065,000 shares during the period. Norges Bank acquired a new stake in TC Energy during the 4th quarter worth approximately $341,262,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in TC Energy by 94.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company’s stock valued at $688,534,000 after buying an additional 8,339,800 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

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.