TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP - Zacks Research lowered their Q2 2024 earnings estimates for TC Energy in a research note issued on Wednesday, April 24th. Zacks Research analyst T. Saha now anticipates that the pipeline company will post earnings per share of $0.63 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.
TRP has been the subject of a number of other reports. TheStreet upgraded shares of TC Energy from a "c+" rating to a "b-" rating in a research report on Wednesday, March 20th. Stifel Nicolaus started coverage on shares of TC Energy in a research report on Thursday, January 18th. They set a "buy" rating for the company. The Goldman Sachs Group raised their price objective 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. Jefferies Financial Group started coverage on shares of TC Energy in a research note on Tuesday, February 27th. They set a "hold" rating for the company. Finally, Barclays raised their price objective on shares of TC Energy from $53.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $48.83.
Read Our Latest Research Report on TC Energy
TC Energy Price Performance
Shares of TRP stock traded up $0.19 during midday trading on Thursday, reaching $36.10. 3,580,791 shares of the company traded hands, compared to its average volume of 3,031,884. The firm's 50 day simple moving average is $38.90 and its two-hundred day simple moving average is $38.03. TC Energy has a 1-year low of $32.51 and a 1-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 firm has a market cap of $36.10 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 3.03 and a beta of 0.75.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.93 billion.
TC Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.714 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from TC Energy's previous quarterly dividend of $0.67. This represents a $2.86 annualized dividend and a dividend yield of 7.91%. TC Energy's payout ratio is currently 139.41%.
Institutional Trading of TC Energy
Several institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc lifted its holdings in TC Energy by 74.8% in the 3rd quarter. IFP Advisors Inc now owns 3,455 shares of the pipeline company's stock worth $119,000 after buying an additional 1,478 shares in the last quarter. SG Americas Securities LLC lifted its holdings in TC Energy by 747.1% in the 3rd quarter. SG Americas Securities LLC now owns 22,627 shares of the pipeline company's stock worth $779,000 after buying an additional 19,956 shares in the last quarter. DAVENPORT & Co LLC lifted its holdings in TC Energy by 2.5% in the 3rd quarter. DAVENPORT & Co LLC now owns 87,614 shares of the pipeline company's stock worth $3,027,000 after buying an additional 2,110 shares in the last quarter. Private Trust Co. NA lifted its holdings in TC Energy by 10.2% in the 3rd quarter. Private Trust Co. NA now owns 5,817 shares of the pipeline company's stock worth $200,000 after buying an additional 540 shares in the last quarter. Finally, Hennessy Advisors Inc. lifted its holdings in TC Energy by 15.6% in the 3rd quarter. Hennessy Advisors Inc. now owns 679,200 shares of the pipeline company's stock worth $23,371,000 after buying an additional 91,600 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.
TC Energy Company Profile
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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.
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