Q3 Earnings Estimate for TC Energy Issued By Atb Cap Markets

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Equities research analysts at Atb Cap Markets cut their Q3 2024 EPS estimates for shares of TC Energy in a report released on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now forecasts that the pipeline company will post earnings of $0.68 per share for the quarter, down from their previous estimate of $0.74. The consensus estimate for TC Energy’s current full-year earnings is $3.02 per share.

TRP has been the topic of a number of other reports. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Finally, StockNews.com began coverage on shares of TC Energy in a report on Saturday, October 5th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, TC Energy has a consensus rating of “Hold” and an average target price of $48.50.

TC Energy Price Performance

TC Energy stock opened at $46.99 on Friday. 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 company has a market capitalization of $48.77 billion, a price-to-earnings ratio of 19.26, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81. The company’s 50 day simple moving average is $46.08 and its 200-day simple moving average is $41.40. TC Energy has a 1 year low of $30.61 and a 1 year high of $48.25.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.65 by $0.29. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates 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 prior year, the company posted $0.71 EPS.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a dividend of $0.702 per share. This represents a $2.81 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date is Friday, September 27th. TC Energy’s dividend payout ratio is presently 116.80%.

Institutional Trading of TC Energy

Several hedge funds have recently added to or reduced their stakes in TRP. EdgeRock Capital LLC purchased a new stake in shares of TC Energy in the 2nd quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of TC Energy by 138.8% during the second 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 during the last quarter. Blue Trust Inc. grew its holdings in shares of TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 267 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of TC Energy during the second quarter worth about $33,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of TC Energy in the 2nd quarter valued at about $51,000. 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.