TC Energy FY2024 EPS Estimate Increased by Zacks Research

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Equities research analysts at Zacks Research upped their FY2024 earnings per share (EPS) estimates for TC Energy in a note issued to investors on Wednesday, February 5th. Zacks Research analyst T. Saha now anticipates that the pipeline company will earn $3.02 per share for the year, up from their previous estimate of $2.99. The consensus estimate for TC Energy’s current full-year earnings is $2.95 per share. Zacks Research also issued estimates for TC Energy’s Q4 2024 earnings at $0.65 EPS and Q2 2026 earnings at $0.64 EPS.

A number of other equities analysts also recently weighed in on the company. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. TD Securities assumed coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, The Goldman Sachs Group raised their price objective 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. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $56.00.

TC Energy Price Performance

TRP opened at $46.89 on Friday. The firm has a market capitalization of $48.72 billion, a P/E ratio of 12.99, a PEG ratio of 4.31 and a beta of 0.81. TC Energy has a 12-month low of $31.83 and a 12-month high of $50.37. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The stock has a fifty day moving average of $46.82 and a 200-day moving average of $46.30.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion.

Hedge Funds Weigh In On TC Energy

Several large investors have recently made changes to their positions in TRP. Cetera Investment Advisers lifted its position in TC Energy by 5.2% during the 2nd quarter. Cetera Investment Advisers now owns 103,894 shares of the pipeline company’s stock valued at $3,938,000 after purchasing an additional 5,165 shares during the period. Sanctuary Advisors LLC acquired a new position in TC Energy in the second quarter valued at approximately $742,000. Atomi Financial Group Inc. boosted its stake in TC Energy by 63.7% in the third quarter. Atomi Financial Group Inc. now owns 11,716 shares of the pipeline company’s stock valued at $557,000 after acquiring an additional 4,561 shares during the last quarter. Marcum Wealth LLC acquired a new stake in TC Energy during the 3rd quarter worth $220,000. Finally, Code Waechter LLC bought a new stake in shares of TC Energy during the 3rd quarter valued at $1,500,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

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.