FY2027 EPS Estimates for TC Energy Cut by Zacks Research

Key Points

• Zacks Research has lowered its FY2027 EPS estimate for TC Energy to $2.61 per share, a slight decrease from the previous estimate of $2.62.
• TC Energy recently reported a quarterly EPS of $0.59, exceeding analyst expectations of $0.56, although revenue fell short of estimates at $1.82 billion.
• The company's quarterly dividend has been increased to $0.6148 per share, representing a yield of 4.7% and a payout ratio of 83.62%.

TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP - Investment analysts at Zacks Research reduced their FY2027 earnings per share (EPS) estimates for shares of TC Energy in a report released on Tuesday, September 9th. Zacks Research analyst Team now forecasts that the pipeline company will post earnings of $2.61 per share for the year, down from their prior forecast of $2.62. The consensus estimate for TC Energy's current full-year earnings is $2.63 per share.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same period last year, the company posted $0.79 earnings per share.

A number of other research analysts also recently issued reports on TRP. US Capital Advisors downgraded shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. Barclays reaffirmed an "overweight" rating on shares of TC Energy in a report on Thursday, August 14th. Finally, Wall Street Zen upgraded TC Energy from a "sell" rating to a "hold" rating in a report on Saturday. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Stock Down 0.5%

TRP stock traded down $0.25 during trading on Wednesday, reaching $52.07. 854,023 shares of the company traded hands, compared to its average volume of 2,272,087. The business has a 50 day simple moving average of $49.68 and a 200 day simple moving average of $48.91. TC Energy has a 12 month low of $40.76 and a 12 month high of $52.49. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. The company has a market capitalization of $54.14 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 5.01 and a beta of 0.77.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be issued a $0.6148 dividend. This is an increase from TC Energy's previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.46 annualized dividend and a dividend yield of 4.7%. TC Energy's payout ratio is currently 85.32%.

Institutional Investors Weigh In On TC Energy

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its holdings in shares of TC Energy by 143,808.2% in the 4th quarter. BNP Paribas Financial Markets now owns 87,784 shares of the pipeline company's stock valued at $4,085,000 after buying an additional 87,723 shares during the period. Cetera Investment Advisers raised its position in TC Energy by 4.6% during the fourth quarter. Cetera Investment Advisers now owns 103,324 shares of the pipeline company's stock valued at $4,813,000 after acquiring an additional 4,522 shares in the last quarter. Focus Partners Wealth lifted its holdings in TC Energy by 10.5% in the fourth quarter. Focus Partners Wealth now owns 8,517 shares of the pipeline company's stock valued at $396,000 after acquiring an additional 808 shares during the period. Janus Henderson Group PLC boosted its position in TC Energy by 4.4% in the 4th quarter. Janus Henderson Group PLC now owns 1,037,808 shares of the pipeline company's stock worth $48,335,000 after purchasing an additional 43,731 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new stake in shares of TC Energy during the 4th quarter worth approximately $267,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

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.