Analysts Set Expectations for TC Energy Co.’s Q2 2024 Earnings (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Analysts at Zacks Research dropped their Q2 2024 earnings estimates for TC Energy in a report released on Wednesday, April 24th. Zacks Research analyst T. Saha now anticipates that the pipeline company will earn $0.63 per share for the quarter, down from their prior forecast of $0.64. The consensus estimate for TC Energy’s current full-year earnings is $2.98 per share. Zacks Research also issued estimates for TC Energy’s Q1 2025 earnings at $0.79 EPS, Q2 2025 earnings at $0.66 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.72 EPS, FY2025 earnings at $2.76 EPS, Q1 2026 earnings at $0.79 EPS and FY2026 earnings at $2.93 EPS.

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

TC Energy Stock Performance

Shares of NYSE TRP opened at $35.91 on Thursday. The company’s fifty day moving average price is $38.95 and its 200 day moving average price is $38.04. TC Energy has a 1 year low of $32.51 and a 1 year high of $42.49. The company has a market capitalization of $35.91 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 3.03 and a beta of 0.75. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 0.96.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.93 billion.

Hedge Funds Weigh In On TC Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. EdgeRock Capital LLC purchased a new position in shares of TC Energy in the fourth quarter worth about $25,000. Bruce G. Allen Investments LLC purchased a new position in shares of TC Energy in the fourth quarter worth about $26,000. Creekmur Asset Management LLC purchased a new position in shares of TC Energy in the fourth quarter worth about $27,000. Glassman Wealth Services lifted its stake 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 buying an additional 275 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A purchased a new position in shares of TC Energy in the fourth quarter worth about $31,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a $0.714 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.67. This represents a $2.86 annualized dividend and a dividend yield of 7.95%. The ex-dividend date is Wednesday, March 27th. TC Energy’s dividend payout ratio (DPR) 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.