Q2 2024 EPS Estimates for TC Energy Co. Decreased by Analyst (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Equities researchers at Atb Cap Markets dropped their Q2 2024 earnings estimates for TC Energy in a note issued to investors on Wednesday, July 31st. Atb Cap Markets analyst N. Heywood now anticipates that the pipeline company will earn $0.66 per share for the quarter, down from their previous estimate of $0.67. The consensus estimate for TC Energy’s current full-year earnings is $3.04 per share. Atb Cap Markets also issued estimates for TC Energy’s Q3 2024 earnings at $0.73 EPS, Q4 2024 earnings at $0.77 EPS, FY2024 earnings at $3.05 EPS, Q1 2025 earnings at $0.91 EPS, Q2 2025 earnings at $0.68 EPS, Q3 2025 earnings at $0.75 EPS, Q4 2025 earnings at $0.86 EPS, FY2025 earnings at $3.20 EPS and FY2026 earnings at $3.46 EPS.

Separately, Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $44.67.

TC Energy Trading Down 0.7 %

NYSE:TRP opened at $42.77 on Friday. TC Energy has a one year low of $32.51 and a one year high of $43.41. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.85 and a current ratio of 0.94. The firm has a market cap of $42.77 billion, a P/E ratio of 22.05, a P/E/G ratio of 3.54 and a beta of 0.79. The firm has a 50-day simple moving average of $39.35 and a 200-day simple moving average of $38.86.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. TC Energy had a net margin of 21.31% and a return on equity of 19.07%. The company had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.12 billion.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a $0.702 dividend. This represents a $2.81 annualized dividend and a dividend yield of 6.57%. The ex-dividend date is Friday, September 27th. TC Energy’s dividend payout ratio is currently 144.33%.

Hedge Funds Weigh In On TC Energy

Large investors have recently made changes to their positions in the company. Signaturefd LLC raised its position in TC Energy by 1.6% during the second quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock worth $621,000 after acquiring an additional 261 shares during the period. New Hampshire Trust raised its position in TC Energy by 3.8% during the first quarter. New Hampshire Trust now owns 7,263 shares of the pipeline company’s stock worth $292,000 after acquiring an additional 269 shares during the period. Glassman Wealth Services raised its position in TC Energy by 61.0% during the fourth quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 275 shares during the period. Wealthspire Advisors LLC raised its position in TC Energy by 2.1% during the fourth quarter. Wealthspire Advisors LLC now owns 14,383 shares of the pipeline company’s stock worth $562,000 after acquiring an additional 300 shares during the period. Finally, Wealth Alliance raised its position in TC Energy by 1.4% during the fourth quarter. Wealth Alliance now owns 22,531 shares of the pipeline company’s stock worth $881,000 after acquiring an additional 304 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

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.