Analysts Set Expectations for TC Energy Co.’s Q2 2024 Earnings (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Equities research analysts at Zacks Research reduced their Q2 2024 EPS estimates for TC Energy in a research note issued to investors 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 previous estimate 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 topic of several other research reports. Jefferies Financial Group began coverage on shares of TC Energy in a report on Tuesday, February 27th. They issued a “hold” rating on the stock. Stifel Nicolaus assumed coverage on shares of TC Energy in a research note on Thursday, January 18th. They set a “buy” rating on the stock. The Goldman Sachs Group lifted their price target 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. TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. Finally, Barclays lifted their price target 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 research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $48.83.

TC Energy Trading Down 0.3 %

Shares of TRP stock opened at $35.91 on Thursday. TC Energy has a 12-month low of $32.51 and a 12-month high of $42.49. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65. The firm’s 50 day moving average is $38.95 and its 200 day moving average is $38.04. The stock has a market capitalization of $35.91 billion, a P/E ratio of 17.69, a P/E/G ratio of 3.03 and a beta of 0.75.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.93 billion.

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 paid a dividend of $0.714 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 7.95%. TC Energy’s payout ratio is 139.41%.

Institutional Trading of TC Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. EdgeRock Capital LLC bought a new stake in TC Energy in the 4th quarter valued at $25,000. Bruce G. Allen Investments LLC bought a new stake in TC Energy in the 4th quarter valued at $26,000. Creekmur Asset Management LLC bought a new stake in TC Energy in the 4th quarter valued at $27,000. Glassman Wealth Services increased its holdings in TC Energy by 61.0% in the 4th quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 275 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A bought a new stake in TC Energy in the 4th quarter valued at $31,000. 83.13% of the stock is currently owned by institutional investors.

About TC Energy

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.