Zacks Research Increases Earnings Estimates for TC Energy

TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP - Research analysts at Zacks Research upped their FY2024 EPS estimates for shares of TC Energy in a note issued to investors on Wednesday, February 5th. Zacks Research analyst T. Saha now forecasts that the pipeline company will post earnings of $3.02 per share for the year, up from their previous forecast of $2.99. The consensus estimate for TC Energy's current full-year earnings is $2.92 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.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating 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 net margin of 31.15% and a return on equity of 12.92%.

A number of other research firms also recently commented on TRP. Morgan Stanley raised shares of TC Energy from an "underweight" rating to an "overweight" rating in a report on Friday, October 25th. The Goldman Sachs Group raised their price target on TC Energy from $38.00 to $42.00 and gave the company a "sell" rating in a report on Monday, October 21st. TD Securities began coverage on shares of TC Energy in a research report on Wednesday, January 15th. They issued a "buy" rating for the company. US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. raised shares of TC Energy from a "neutral" rating to an "overweight" rating in a research note on Monday, October 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, TC Energy presently has a consensus rating of "Hold" and an average price target of $56.00.

TC Energy Stock Up 0.6 %

TRP traded up $0.28 during trading on Friday, hitting $47.20. The company had a trading volume of 658,811 shares, compared to its average volume of 2,083,941. TC Energy has a 1-year low of $31.83 and a 1-year high of $50.37. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The company has a market cap of $49.04 billion, a PE ratio of 13.07, a P/E/G ratio of 4.45 and a beta of 0.81. The business has a 50-day moving average of $46.78 and a 200-day moving average of $46.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of TC Energy by 156.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company's stock valued at $321,778,000 after buying an additional 4,126,801 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its position in TC Energy by 51.4% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company's stock valued at $225,310,000 after acquiring an additional 1,644,115 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in TC Energy in the fourth quarter valued at approximately $75,464,000. Zurich Insurance Group Ltd FI bought a new stake in TC Energy in the third quarter worth approximately $73,162,000. Finally, Merewether Investment Management LP increased its stake in shares of TC Energy by 37.9% during the 3rd quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company's stock worth $194,776,000 after purchasing an additional 1,127,000 shares during the last quarter. 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.