Brokers Offer Predictions for TC Energy Co.’s Q1 2024 Earnings (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Equities research analysts at National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for shares of TC Energy in a report released on Tuesday, April 23rd. National Bank Financial analyst P. Kenny expects 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 $2.98 per share.

A number of other equities research analysts have also recently issued reports on the company. Jefferies Financial Group started coverage on TC Energy in a research note on Tuesday, February 27th. They issued a “hold” rating on the stock. Barclays boosted 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 started coverage on TC Energy in a research note on Thursday, January 18th. They issued a “buy” rating on the stock. TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. Finally, The Goldman Sachs Group boosted 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, TC Energy presently has an average rating of “Hold” and a consensus target price of $48.83.

TC Energy Trading Down 0.3 %

NYSE TRP opened at $35.91 on Thursday. The stock has a market capitalization of $35.91 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 3.03 and a beta of 0.75. TC Energy has a one year low of $32.51 and a one year high of $42.49. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88. The business’s fifty day moving average is $38.95 and its 200-day moving average is $38.04.

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, topping analysts’ consensus estimates of $0.79 by $0.20. The company had revenue of $3.11 billion for 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%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. EdgeRock Capital LLC bought a new position in shares of TC Energy in the fourth quarter worth approximately $25,000. Bruce G. Allen Investments LLC bought a new position in shares of TC Energy in the fourth quarter worth approximately $26,000. Creekmur Asset Management LLC bought a new position in shares of TC Energy in the fourth quarter worth approximately $27,000. Glassman Wealth Services increased its position 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 purchasing an additional 275 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A bought a new position in shares of TC Energy in the fourth quarter worth approximately $31,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a $0.714 dividend. This represents a $2.86 annualized dividend and a dividend yield of 7.95%. This is a boost from TC Energy’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Wednesday, March 27th. TC Energy’s dividend payout ratio is 139.41%.

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.