Analysts Offer Predictions for TC Energy Co.’s Q3 2024 Earnings (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Equities researchers at Zacks Research reduced their Q3 2024 earnings estimates for TC Energy in a research report issued on Wednesday, April 24th. Zacks Research analyst T. Saha now expects that the pipeline company will post earnings per share of $0.67 for the quarter, down from their prior estimate of $0.68. The consensus estimate for TC Energy’s current full-year earnings is $2.89 per share. Zacks Research also issued estimates for TC Energy’s Q4 2024 earnings at $0.76 EPS and FY2024 earnings at $2.89 EPS.

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

Several other brokerages also recently weighed in on TRP. Stifel Nicolaus assumed coverage on shares of TC Energy in a research report on Thursday, January 18th. They set a “buy” rating for the company. TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. Jefferies Financial Group assumed coverage on shares of TC Energy in a research report on Tuesday, February 27th. They set a “hold” rating for the company. Barclays raised their price target on shares of TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Finally, The Goldman Sachs Group raised their price target on shares of TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research report on Friday, January 26th. One equities 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 company presently has a consensus rating of “Hold” and an average price target of $48.83.

TC Energy Price Performance

Shares of NYSE TRP opened at $36.07 on Friday. TC Energy has a fifty-two week low of $32.51 and a fifty-two week high of $42.49. The company has a 50 day simple moving average of $38.83 and a two-hundred day simple moving average of $38.04. The company has a market capitalization of $36.07 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 3.11 and a beta of 0.75. 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.714 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.86 annualized dividend and a yield of 7.92%. This is a boost from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s dividend payout ratio (DPR) is currently 139.41%.

Institutional Investors Weigh In On TC Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its stake in shares of TC Energy by 74.8% during the 3rd quarter. IFP Advisors Inc now owns 3,455 shares of the pipeline company’s stock worth $119,000 after acquiring an additional 1,478 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of TC Energy by 747.1% during the 3rd quarter. SG Americas Securities LLC now owns 22,627 shares of the pipeline company’s stock worth $779,000 after acquiring an additional 19,956 shares during the last quarter. DAVENPORT & Co LLC boosted its stake in shares of TC Energy by 2.5% during the 3rd quarter. DAVENPORT & Co LLC now owns 87,614 shares of the pipeline company’s stock worth $3,027,000 after acquiring an additional 2,110 shares during the last quarter. Private Trust Co. NA boosted its stake in shares of TC Energy by 10.2% during the 3rd quarter. Private Trust Co. NA now owns 5,817 shares of the pipeline company’s stock worth $200,000 after acquiring an additional 540 shares during the last quarter. Finally, SS&H Financial Advisors Inc. purchased a new position in shares of TC Energy during the 3rd quarter worth $220,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

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.