Research Analysts Issue Forecasts for TC Energy Q3 Earnings

TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP - Stock analysts at US Capital Advisors upped their Q3 2024 earnings per share (EPS) estimates for TC Energy in a research report issued on Monday, October 28th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will earn $0.77 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 $3.02 per share. US Capital Advisors also issued estimates for TC Energy's Q4 2024 earnings at $0.63 EPS and Q4 2025 earnings at $0.62 EPS.

A number of other equities analysts have also commented on the company. UBS Group raised TC Energy from a "neutral" rating to a "buy" rating in a research note on Monday, September 30th. Barclays raised shares of TC Energy from an "equal weight" rating to an "overweight" rating in a research note on Wednesday, July 17th. StockNews.com initiated coverage on shares of TC Energy in a research note on Saturday, October 5th. They set a "hold" rating for the company. Veritas raised shares of TC Energy to a "strong sell" rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised TC Energy from a "neutral" rating to an "overweight" rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $48.50.

TC Energy Trading Down 1.1 %

NYSE TRP traded down $0.50 during trading hours on Tuesday, reaching $46.29. The company's stock had a trading volume of 1,311,740 shares, compared to its average volume of 3,166,328. 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 has a 52 week low of $30.66 and a 52 week high of $48.25. The firm has a fifty day simple moving average of $46.24 and a 200-day simple moving average of $41.63. The stock has a market cap of $48.04 billion, a P/E ratio of 18.97, a P/E/G ratio of 3.91 and a beta of 0.81.

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 EPS for the quarter, beating the consensus estimate of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the prior year, the firm earned $0.71 EPS.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Capital Research Global Investors lifted its holdings in TC Energy by 2.7% during the first quarter. Capital Research Global Investors now owns 57,170,304 shares of the pipeline company's stock worth $2,297,701,000 after acquiring an additional 1,492,315 shares during the period. Vanguard Group Inc. raised its stake in shares of TC Energy by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 41,057,330 shares of the pipeline company's stock worth $1,650,505,000 after purchasing an additional 653,031 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of TC Energy by 107.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company's stock worth $737,609,000 after purchasing an additional 10,065,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of TC Energy by 94.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company's stock worth $688,534,000 after buying an additional 8,339,800 shares during the last quarter. Finally, TD Asset Management Inc grew its position in TC Energy by 9.5% during the first quarter. TD Asset Management Inc now owns 16,763,150 shares of the pipeline company's stock valued at $674,366,000 after buying an additional 1,458,732 shares during the period. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Cuts Dividend

The company also recently announced 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 6.07%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy's payout ratio is 116.39%.

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.