TC Energy FY2024 EPS Forecast Reduced by Atb Cap Markets

TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP - Equities research analysts at Atb Cap Markets decreased their FY2024 earnings per share (EPS) estimates for TC Energy in a research report issued to clients and investors on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now forecasts that the pipeline company will earn $2.86 per share for the year, down from their prior forecast of $3.00. The consensus estimate for TC Energy's current full-year earnings is $3.02 per share.

A number of other research analysts have also recently commented on TRP. UBS Group upgraded TC Energy from a "neutral" rating to a "buy" rating in a report on Monday, September 30th. JPMorgan Chase & Co. upgraded TC Energy from a "neutral" rating to an "overweight" rating in a report on Monday, October 14th. StockNews.com initiated coverage on TC Energy in a research note on Saturday, October 5th. They set a "hold" rating on the stock. Veritas upgraded TC Energy to a "strong sell" rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group upped their price target on TC Energy from $38.00 to $42.00 and gave the stock a "sell" rating in a research note on Monday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $48.50.

TC Energy Trading Up 0.1 %

TRP traded up $0.03 during trading hours on Thursday, reaching $46.99. The company's stock had a trading volume of 1,347,358 shares, compared to its average volume of 3,192,514. TC Energy has a fifty-two week low of $30.61 and a fifty-two week high of $48.25. The stock has a market cap of $48.77 billion, a PE ratio of 19.26, a P/E/G ratio of 3.92 and a beta of 0.81. The business's 50-day moving average is $46.08 and its 200-day moving average is $41.40. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68.

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 analysts' consensus estimates of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The firm had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $2.78 billion. During the same period in the prior year, the firm posted $0.71 earnings per share.

Institutional Trading of TC Energy

Large investors have recently modified their holdings of the stock. EdgeRock Capital LLC purchased a new stake in shares of TC Energy during the second quarter worth $25,000. Whittier Trust Co. of Nevada Inc. increased its position 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 acquiring an additional 429 shares during the period. Blue Trust Inc. increased its position 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 acquiring an additional 267 shares during the period. Mather Group LLC. purchased a new stake in shares of TC Energy during the second quarter worth $33,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of TC Energy during the second quarter worth $51,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

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 of this dividend is Friday, September 27th. TC Energy's dividend payout ratio is currently 116.80%.

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.