Analysts Offer Predictions for TC Energy FY2024 Earnings

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Research analysts at US Capital Advisors increased their FY2024 earnings per share estimates for TC Energy in a report issued on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings per share of $3.16 for the year, up from their previous forecast of $2.91. The consensus estimate for TC Energy’s current full-year earnings is $2.98 per share. US Capital Advisors also issued estimates for TC Energy’s Q4 2024 earnings at $0.65 EPS, Q1 2025 earnings at $0.68 EPS, Q2 2025 earnings at $0.54 EPS, Q3 2025 earnings at $0.63 EPS, Q4 2025 earnings at $0.65 EPS, FY2025 earnings at $2.50 EPS and FY2026 earnings at $2.41 EPS.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion.

A number of other research firms have also weighed in on TRP. StockNews.com assumed coverage on TC Energy in a research report on Tuesday. They issued a “hold” rating for the company. Veritas upgraded TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. BMO Capital Markets increased their price target on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. Finally, The Goldman Sachs Group increased their price target on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, TC Energy presently has a consensus rating of “Hold” and a consensus price target of $55.67.

TC Energy Trading Down 0.7 %

NYSE:TRP opened at $48.41 on Thursday. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. TC Energy has a 1-year low of $31.83 and a 1-year high of $50.37. The firm has a market capitalization of $50.25 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81. The stock has a fifty day simple moving average of $47.36 and a 200 day simple moving average of $43.45.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.822 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a yield of 6.79%. TC Energy’s dividend payout ratio (DPR) is presently 67.31%.

Institutional Investors Weigh In On TC Energy

A number of institutional investors have recently bought and sold shares of the business. Fortitude Family Office LLC purchased a new stake in shares of TC Energy during the 3rd quarter worth about $28,000. Blue Trust Inc. raised its stake in shares of TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 267 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in shares of TC Energy during the 2nd quarter worth about $25,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 429 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of TC Energy during the 3rd quarter worth about $39,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

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.