National Bank Financial Estimates TC Energy Q3 Earnings

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Stock analysts at National Bank Financial issued their Q3 2024 EPS estimates for shares of TC Energy in a report issued on Wednesday, October 23rd. National Bank Financial analyst P. Kenny forecasts that the pipeline company will post earnings per share of $0.73 for the quarter. The consensus estimate for TC Energy’s current full-year earnings is $3.02 per share.

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 analysts’ consensus estimates of $0.65 by $0.29. The company 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 quarter in the previous year, the company posted $0.71 earnings per share.

A number of other equities research analysts also recently weighed in on TRP. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. StockNews.com initiated coverage on shares of TC Energy in a research note on Saturday, October 5th. They issued a “hold” rating for the company. Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group lifted their price target on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. Finally, Veritas raised TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $48.50.

TC Energy Stock Performance

TRP opened at $47.26 on Friday. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. The business has a fifty day simple moving average of $46.14 and a 200 day simple moving average of $41.44. TC Energy has a 1 year low of $30.61 and a 1 year high of $48.25. The company has a market capitalization of $47.26 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81.

Hedge Funds Weigh In On TC Energy

A number of institutional investors have recently modified their holdings of TRP. Fortitude Family Office LLC acquired a new stake in TC Energy in the third quarter valued at approximately $28,000. Blue Trust Inc. boosted its holdings 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 valued at $30,000 after acquiring an additional 267 shares in the last quarter. EdgeRock Capital LLC bought a new stake in TC Energy during the 2nd quarter worth $25,000. Whittier Trust Co. of Nevada Inc. increased its holdings in TC Energy by 138.8% in 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, Mather Group LLC. bought a new position in TC Energy in the second quarter valued at about $33,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a dividend of $0.702 per share. This represents a $2.81 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is presently 146.39%.

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.