TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP - Equities researchers at US Capital Advisors lifted their Q2 2024 earnings per share (EPS) estimates for TC Energy in a note issued to investors 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 prior estimate 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.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The firm had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $2.93 billion.
TRP has been the topic of a number of other research reports. TheStreet raised TC Energy from a "c+" rating to a "b-" rating in a research report on Wednesday, March 20th. Stifel Nicolaus initiated coverage on TC Energy in a research report on Thursday, January 18th. They set a "buy" rating on the stock. Jefferies Financial Group initiated 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 research report on Monday, January 29th. Finally, The Goldman Sachs Group upped their price objective on TC Energy from $29.00 to $32.00 and gave the stock a "sell" rating in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $48.83.
Check Out Our Latest Analysis on TC Energy
TC Energy Trading Up 1.9 %
NYSE TRP traded up $0.68 on Thursday, reaching $36.41. The stock had a trading volume of 3,457,562 shares, compared to its average volume of 3,085,895. The firm has a market capitalization of $36.41 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 3.09 and a beta of 0.76. 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 has a 12-month low of $32.51 and a 12-month high of $42.49. The stock has a fifty day moving average price of $38.53 and a two-hundred day moving average price of $38.07.
Hedge Funds Weigh In On TC Energy
Large investors have recently bought and sold shares of the stock. EdgeRock Capital LLC acquired a new position in TC Energy in the fourth quarter valued at $25,000. Bruce G. Allen Investments LLC acquired a new position in TC Energy in the fourth quarter valued at $26,000. Creekmur Asset Management LLC acquired a new stake in shares of TC Energy during the fourth quarter worth about $27,000. Glassman Wealth Services boosted its stake 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 buying an additional 275 shares during the period. Finally, OLD Point Trust & Financial Services N A acquired a new stake in shares of TC Energy during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 83.13% of the company's stock.
TC Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were paid a $0.714 dividend. This represents a $2.86 annualized dividend and a yield of 7.84%. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from TC Energy's previous quarterly dividend of $0.67. TC Energy's dividend payout ratio is currently 139.41%.
About TC Energy
(
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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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