Zacks Research Research Analysts Cut Earnings Estimates for TC Energy Co. (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Equities research analysts at Zacks Research dropped their Q3 2024 earnings per share (EPS) estimates for shares of TC Energy in a research note issued on Wednesday, April 24th. Zacks Research analyst T. Saha now expects that the pipeline company will post earnings of $0.67 per share for the quarter, down from their prior estimate of $0.68. The consensus estimate for TC Energy’s current full-year earnings is $2.89 per share. Zacks Research also issued estimates for TC Energy’s Q4 2024 earnings at $0.76 EPS and FY2024 earnings at $2.89 EPS.

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

TRP has been the topic of several other reports. TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group lifted their price target on TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. Barclays upped their price objective on TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. 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 started coverage on shares of TC Energy in a research note on Thursday, January 18th. They issued a “buy” rating for the company. One 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 MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $48.83.

TC Energy Price Performance

Shares of NYSE TRP opened at $36.10 on Friday. The stock’s 50-day simple moving average is $38.90 and its two-hundred day simple moving average is $38.03. TC Energy has a twelve month low of $32.51 and a twelve month high of $42.49. The firm has a market capitalization of $36.10 billion, a P/E ratio of 17.78, a P/E/G ratio of 3.11 and a beta of 0.75. The company has a quick ratio of 0.88, a current ratio of 0.96 and a debt-to-equity ratio of 1.65.

Institutional Investors Weigh In On TC Energy

Large investors have recently modified their holdings of the stock. EdgeRock Capital LLC bought a new position in shares of TC Energy in the 4th quarter worth approximately $25,000. Bruce G. Allen Investments LLC purchased a new stake in TC Energy in the fourth quarter worth $26,000. Creekmur Asset Management LLC bought a new stake in shares of TC Energy during the 4th quarter valued at $27,000. Glassman Wealth Services grew its position 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 worth $28,000 after buying an additional 275 shares during the period. Finally, OLD Point Trust & Financial Services N A purchased a new position in TC Energy during the 4th quarter valued at about $31,000. Institutional investors own 83.13% of the company’s stock.

TC Energy Increases Dividend

The business 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 $0.714 dividend. The ex-dividend date is Wednesday, March 27th. This is a positive change from TC Energy’s previous quarterly dividend of $0.67. This represents a $2.86 annualized dividend and a yield of 7.91%. TC Energy’s dividend payout ratio is 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.