FY2024 EPS Estimates for TC Energy Co. (NYSE:TRP) Decreased by Atb Cap Markets

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Equities research analysts at Atb Cap Markets cut their FY2024 earnings per share (EPS) estimates for shares of TC Energy in a report released on Wednesday, October 2nd. Atb Cap Markets analyst N. Heywood now expects that the pipeline company will post earnings of $3.00 per share for the year, down from their previous forecast of $3.03. The consensus estimate for TC Energy’s current full-year earnings is $3.08 per share. Atb Cap Markets also issued estimates for TC Energy’s Q4 2024 earnings at $0.65 EPS, Q1 2025 earnings at $0.85 EPS, Q2 2025 earnings at $0.61 EPS, Q3 2025 earnings at $0.68 EPS and FY2025 earnings at $2.95 EPS.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.29. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same period in the previous year, the firm posted $0.71 earnings per share.

Several other equities analysts also recently weighed in on TRP. Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. StockNews.com started coverage on TC Energy in a research report on Saturday. They set a “hold” rating for the company. Finally, UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $43.50.

TC Energy Trading Up 1.7 %

NYSE:TRP opened at $45.11 on Friday. TC Energy has a 52-week low of $32.56 and a 52-week high of $48.42. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57. The stock has a fifty day simple moving average of $45.17 and a 200-day simple moving average of $40.80. The company has a market capitalization of $46.81 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 3.57 and a beta of 0.81.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a $0.702 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.81 annualized dividend and a yield of 6.22%. TC Energy’s dividend payout ratio (DPR) is presently 146.91%.

Hedge Funds Weigh In On TC Energy

Institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC grew its position in TC Energy by 1.6% during the second quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock valued at $621,000 after acquiring an additional 261 shares during the period. New Hampshire Trust lifted its stake in shares of TC Energy by 3.8% in the 1st quarter. New Hampshire Trust now owns 7,263 shares of the pipeline company’s stock valued at $292,000 after purchasing an additional 269 shares in the last quarter. Windsor Advisory Group LLC grew its holdings in shares of TC Energy by 2.5% during the 1st quarter. Windsor Advisory Group LLC now owns 12,831 shares of the pipeline company’s stock worth $516,000 after purchasing an additional 316 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in TC Energy by 2.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 15,005 shares of the pipeline company’s stock worth $604,000 after purchasing an additional 332 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC raised its holdings in TC Energy by 1.9% in the first quarter. Mount Yale Investment Advisors LLC now owns 19,873 shares of the pipeline company’s stock valued at $799,000 after buying an additional 364 shares during the period. 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.