Q2 2024 EPS Estimates for TC Energy Co. Raised by US Capital Advisors (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – US Capital Advisors boosted their Q2 2024 earnings per share (EPS) estimates for TC Energy in a report released on Monday, April 29th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will earn $0.68 per share for the quarter, up from their previous forecast of $0.67. The consensus estimate for TC Energy’s current full-year earnings is $2.90 per share. US Capital Advisors also issued estimates for TC Energy’s Q3 2024 earnings at $0.69 EPS, Q4 2024 earnings at $0.76 EPS and FY2024 earnings at $2.91 EPS.

Several other equities analysts have also recently issued reports on the company. Jefferies Financial Group started coverage on TC Energy in a research report on Tuesday, February 27th. They set a “hold” rating on the stock. 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. TheStreet raised TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. The Goldman Sachs Group upped their price target on shares of TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. 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 equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $48.83.

TC Energy Trading Down 0.3 %

Shares of TC Energy stock opened at $35.73 on Thursday. The firm has a market cap of $35.73 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 3.09 and a beta of 0.76. TC Energy has a 52-week low of $32.51 and a 52-week high of $42.49. The company’s 50-day simple moving average is $38.60 and its 200-day simple moving average is $38.09. The company has a quick ratio of 0.88, a current ratio of 0.96 and a debt-to-equity ratio of 1.65.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $2.93 billion. TC Energy had a net margin of 18.25% and a return on equity of 18.60%.

Institutional Trading of TC Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRP. New Hampshire Trust boosted its position in TC Energy by 3.8% during the first quarter. New Hampshire Trust now owns 7,263 shares of the pipeline company’s stock worth $292,000 after acquiring an additional 269 shares during the last quarter. Glassman Wealth Services boosted its holdings in shares of TC Energy by 61.0% during 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. EverSource Wealth Advisors LLC boosted its holdings in shares of TC Energy by 14.2% during the third quarter. EverSource Wealth Advisors LLC now owns 2,315 shares of the pipeline company’s stock worth $80,000 after purchasing an additional 288 shares during the last quarter. Wealthspire Advisors LLC grew its position in shares of TC Energy by 2.1% in the fourth quarter. Wealthspire Advisors LLC now owns 14,383 shares of the pipeline company’s stock valued at $562,000 after purchasing an additional 300 shares during the period. Finally, AdvisorNet Financial Inc increased its stake in TC Energy by 25.8% in the fourth quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company’s stock valued at $58,000 after purchasing an additional 304 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were given a dividend of $0.714 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.67. The ex-dividend date was Wednesday, March 27th. This represents a $2.86 annualized dividend and a yield of 7.99%. TC Energy’s dividend payout ratio (DPR) is presently 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.