Q2 2024 Earnings Forecast for TC Energy Co. Issued By US Capital Advisors (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Stock analysts at US Capital Advisors raised their Q2 2024 earnings per share (EPS) estimates for TC Energy in a research report issued to clients and investors on Monday, April 29th. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings per share of $0.68 for the quarter, up from their previous forecast 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.

A number of other analysts also recently commented on TRP. Barclays upped their target price 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. Stifel Nicolaus started coverage on shares of TC Energy in a research report on Thursday, January 18th. They set a “buy” rating on the stock. Jefferies Financial Group began coverage on shares of TC Energy in a research report on Tuesday, February 27th. They issued a “hold” rating for the company. TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. Finally, The Goldman Sachs Group upped their price target on TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a report on Friday, January 26th. 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $48.83.

TC Energy Price Performance

Shares of TRP opened at $35.73 on Thursday. The business’s 50-day moving average is $38.60 and its two-hundred day moving average is $38.09. The company has a market capitalization of $35.73 billion, a P/E ratio of 17.60, a P/E/G ratio of 3.09 and a beta of 0.76. TC Energy has a fifty-two week low of $32.51 and a fifty-two week high of $42.49. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 0.96.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20. The company had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.93 billion. TC Energy had a net margin of 18.25% and a return on equity of 18.60%.

Institutional Investors Weigh In On TC Energy

Large investors have recently modified their holdings of the business. Capital Research Global Investors lifted its position in TC Energy by 23.7% during the fourth quarter. Capital Research Global Investors now owns 55,677,989 shares of the pipeline company’s stock worth $2,174,931,000 after buying an additional 10,654,993 shares in the last quarter. Capital International Investors increased its stake in shares of TC Energy by 11.8% in the 4th quarter. Capital International Investors now owns 55,161,245 shares of the pipeline company’s stock worth $2,155,419,000 after acquiring an additional 5,822,056 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of TC Energy by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 40,404,299 shares of the pipeline company’s stock worth $1,579,404,000 after acquiring an additional 778,359 shares during the period. Capital World Investors boosted its position in shares of TC Energy by 0.5% during the 4th quarter. Capital World Investors now owns 37,412,046 shares of the pipeline company’s stock valued at $1,461,583,000 after acquiring an additional 181,091 shares during the last quarter. Finally, Bank of Nova Scotia grew its holdings in shares of TC Energy by 13.7% in the fourth quarter. Bank of Nova Scotia now owns 28,980,334 shares of the pipeline company’s stock valued at $1,132,854,000 after purchasing an additional 3,497,666 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were issued a $0.714 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.86 dividend on an annualized basis and a yield of 7.99%. This is a positive change from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s dividend payout ratio (DPR) is presently 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.