Q3 2024 EPS Estimates for TC Energy Co. (NYSE:TRP) Cut by Zacks Research

TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP - Research analysts at Zacks Research dropped their Q3 2024 earnings per share estimates for TC Energy in a research report issued on Wednesday, April 24th. Zacks Research analyst T. Saha now anticipates that the pipeline company will post earnings of $0.67 per share for the quarter, down from their previous 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.

A number of other research firms have also commented on TRP. TheStreet raised TC Energy from a "c+" rating to a "b-" rating in a research note on Wednesday, March 20th. Stifel Nicolaus assumed coverage on TC Energy in a research note on Thursday, January 18th. They issued a "buy" rating on the stock. The Goldman Sachs Group lifted their price objective 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 lifted their price objective on TC Energy from $53.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Monday, January 29th. Finally, Jefferies Financial Group initiated coverage on TC Energy in a research note on Tuesday, February 27th. They issued a "hold" rating on the stock. One 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $48.83.

TC Energy Trading Down 0.1 %

Shares of TC Energy stock traded down $0.02 during midday trading on Friday, reaching $36.07. The company had a trading volume of 2,934,696 shares, compared to its average volume of 3,033,185. The stock has a fifty day moving average price of $38.90 and a 200 day moving average price of $38.03. 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 $36.07 billion, a PE ratio of 17.77, a P/E/G ratio of 3.11 and a beta of 0.75. TC Energy has a fifty-two week low of $32.51 and a fifty-two week high of $42.49.

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

Hedge Funds Weigh In On TC Energy

A number of large investors have recently modified their holdings of TRP. IFP Advisors Inc lifted its holdings in shares of 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 purchasing an additional 1,478 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of 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 purchasing an additional 19,956 shares in the last quarter. DAVENPORT & Co LLC lifted its stake in TC Energy by 2.5% during the 3rd quarter. DAVENPORT & Co LLC now owns 87,614 shares of the pipeline company's stock valued at $3,027,000 after acquiring an additional 2,110 shares in the last quarter. Private Trust Co. NA lifted its stake in TC Energy by 10.2% during the 3rd quarter. Private Trust Co. NA now owns 5,817 shares of the pipeline company's stock valued at $200,000 after acquiring an additional 540 shares in the last quarter. Finally, SS&H Financial Advisors Inc. bought a new position in TC Energy during the 3rd quarter valued at $220,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.714 dividend. This is a boost from TC Energy's previous quarterly dividend of $0.67. This represents a $2.86 dividend on an annualized basis and a dividend yield of 7.92%. The ex-dividend date is Wednesday, March 27th. TC Energy's dividend payout ratio (DPR) is currently 139.41%.

TC Energy Company Profile

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.