TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP - Analysts at Atb Cap Markets upped their Q3 2024 earnings per share (EPS) estimates for TC Energy in a research note issued to investors on Wednesday, October 2nd. Atb Cap Markets analyst N. Heywood now expects that the pipeline company will post earnings of $0.74 per share for the quarter, up from their previous forecast of $0.72. The consensus estimate for TC Energy's current full-year earnings is $3.08 per share.
TRP has been the subject of several other research reports. StockNews.com assumed coverage on TC Energy in a report on Saturday. They set a "hold" rating for the company. UBS Group upgraded TC Energy from a "neutral" rating to a "buy" rating in a report on Monday, September 30th. Finally, Barclays upgraded TC Energy from an "equal weight" rating to an "overweight" rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, TC Energy currently has a consensus rating of "Hold" and an average price target of $43.50.
Read Our Latest Analysis on TC Energy
TC Energy Stock Down 0.5 %
Shares of NYSE TRP traded down $0.24 during midday trading on Monday, hitting $44.87. 5,324,533 shares of the stock traded hands, compared to its average volume of 2,961,233. The business has a 50 day moving average price of $45.17 and a two-hundred day moving average price of $40.81. TC Energy has a one year low of $33.47 and a one year high of $48.42. The company has a market cap of $44.87 billion, a PE ratio of 23.02, a P/E/G ratio of 3.57 and a beta of 0.81. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings data 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 firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate 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 previous year, the company posted $0.71 earnings per share.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC purchased a new position in TC Energy in the first quarter valued at about $1,159,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of TC Energy by 15.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,109,055 shares of the pipeline company's stock valued at $81,599,000 after purchasing an additional 278,886 shares during the period. M&G Plc bought a new stake in shares of TC Energy in the first quarter valued at approximately $111,587,000. Cetera Investment Advisers raised its position in shares of TC Energy by 74.1% in the first quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company's stock valued at $3,972,000 after purchasing an additional 42,024 shares during the period. Finally, Maryland State Retirement & Pension System raised its position in shares of TC Energy by 1.8% in the first quarter. Maryland State Retirement & Pension System now owns 1,302,358 shares of the pipeline company's stock valued at $52,355,000 after purchasing an additional 22,430 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.
TC Energy Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be paid a $0.702 dividend. This represents a $2.81 dividend on an annualized basis and a yield of 6.26%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy's payout ratio is 146.39%.
About TC Energy
(
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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.
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