Q3 Earnings Estimate for TC Energy Issued By Atb Cap Markets

TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP - Equities research analysts at Atb Cap Markets lowered their Q3 2024 earnings estimates for shares of TC Energy in a research report issued to clients and investors on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now anticipates that the pipeline company will post earnings of $0.68 per share for the quarter, down from their prior forecast of $0.74. The consensus estimate for TC Energy's current full-year earnings is $3.02 per share.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the prior year, the firm earned $0.71 earnings per share.

TRP has been the topic of a number of other research reports. Morgan Stanley raised TC Energy from an "underweight" rating to an "overweight" rating in a report on Friday. Veritas raised shares of TC Energy to a "strong sell" rating in a report on Tuesday, October 8th. The Goldman Sachs Group upped their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a "sell" rating in a report on Monday. StockNews.com started coverage on shares of TC Energy in a research report on Saturday, October 5th. They issued a "hold" rating on the stock. Finally, Barclays upgraded TC Energy from an "equal weight" rating to an "overweight" rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $48.50.

TC Energy Stock Performance

Shares of NYSE TRP traded up $0.27 during midday trading on Friday, hitting $47.26. 1,364,789 shares of the stock traded hands, compared to its average volume of 3,184,181. The firm has a market capitalization of $47.26 billion, a P/E ratio of 24.36, a PEG ratio of 3.92 and a beta of 0.81. TC Energy has a one year low of $30.61 and a one year high of $48.25. 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 firm has a 50-day moving average of $46.14 and a two-hundred day moving average of $41.44.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.702 per share. This represents a $2.81 annualized dividend and a dividend yield of 5.94%. The ex-dividend date is Friday, September 27th. TC Energy's dividend payout ratio is currently 146.39%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRP. Intech Investment Management LLC purchased a new position in TC Energy during the 1st quarter valued at approximately $1,159,000. Mirae Asset Global Investments Co. Ltd. increased its position in 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 worth $81,599,000 after purchasing an additional 278,886 shares during the last quarter. M&G Plc purchased a new stake in TC Energy during the first quarter valued at $111,587,000. Cetera Investment Advisers lifted its position in TC Energy by 74.1% during 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 last quarter. Finally, Maryland State Retirement & Pension System grew its stake in shares of TC Energy by 1.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 1,302,358 shares of the pipeline company's stock worth $52,355,000 after buying an additional 22,430 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

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.