Q4 Earnings Forecast for TC Energy Issued By Atb Cap Markets

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Equities researchers at Atb Cap Markets reduced their Q4 2024 earnings estimates for shares of TC Energy in a research report issued on Thursday, November 7th. Atb Cap Markets analyst N. Heywood now forecasts that the pipeline company will post earnings of $0.62 per share for the quarter, down from their previous estimate of $0.65. The consensus estimate for TC Energy’s current full-year earnings is $2.99 per share.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a return on equity of 12.96% and a net margin of 31.15%.

Several other research firms also recently issued reports on TRP. Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. Veritas raised TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. StockNews.com initiated coverage on TC Energy in a research note on Saturday, October 5th. They issued a “hold” rating on the stock. The Goldman Sachs Group increased their target price on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st. Finally, UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. 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 company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $48.50.

TC Energy Stock Up 1.7 %

TRP opened at $49.59 on Monday. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.22. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. The business has a 50 day moving average price of $46.64 and a 200 day moving average price of $42.37. The firm has a market cap of $51.47 billion, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 4.04 and a beta of 0.81.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 6.63%. TC Energy’s dividend payout ratio (DPR) is currently 91.14%.

Institutional Investors Weigh In On TC Energy

Several large investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in TC Energy during the first quarter worth about $104,000. Atomi Financial Group Inc. acquired a new stake in TC Energy during the 1st quarter valued at $219,000. Headlands Technologies LLC raised its position in TC Energy by 49,890.3% in the 1st quarter. Headlands Technologies LLC now owns 15,497 shares of the pipeline company’s stock valued at $623,000 after purchasing an additional 15,466 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in TC Energy by 0.3% in the first quarter. Russell Investments Group Ltd. now owns 1,262,444 shares of the pipeline company’s stock worth $50,785,000 after purchasing an additional 3,801 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its holdings in shares of TC Energy by 8.8% during the first quarter. Bleakley Financial Group LLC now owns 124,228 shares of the pipeline company’s stock worth $4,994,000 after purchasing an additional 10,044 shares during the last quarter. 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.