US Capital Advisors Reduces Earnings Estimates for TC Energy

TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP - Investment analysts at US Capital Advisors reduced their FY2024 earnings estimates for shares of TC Energy in a research report issued to clients and investors on Monday, October 28th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will post earnings of $2.91 per share for the year, down from their previous forecast of $3.01. 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 Q1 2025 earnings at $0.65 EPS, Q2 2025 earnings at $0.53 EPS, Q3 2025 earnings at $0.60 EPS, FY2025 earnings at $2.40 EPS and FY2026 earnings at $2.34 EPS.

Several other equities research analysts have also weighed in on TRP. The Goldman Sachs Group upped their target price on shares of TC Energy from $38.00 to $42.00 and gave the stock a "sell" rating in a report on Monday, October 21st. Morgan Stanley raised shares of TC Energy from an "underweight" rating to an "overweight" rating in a report on Friday, October 25th. JPMorgan Chase & Co. raised shares of TC Energy from a "neutral" rating to an "overweight" rating in a report on Monday, October 14th. Barclays raised shares of TC Energy from an "equal weight" rating to an "overweight" rating in a report on Wednesday, July 17th. Finally, StockNews.com initiated coverage on shares of TC Energy in a report on Saturday, October 5th. They issued a "hold" rating on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, TC Energy presently has an average rating of "Hold" and an average price target of $48.50.

TC Energy Stock Performance

TC Energy stock traded up $0.18 on Wednesday, hitting $46.47. The company's stock had a trading volume of 1,853,454 shares, compared to its average volume of 3,160,076. The company has a fifty day moving average price of $46.28 and a 200-day moving average price of $41.70. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57. TC Energy has a one year low of $31.04 and a one year high of $48.25. The firm has a market cap of $48.23 billion, a P/E ratio of 18.97, a price-to-earnings-growth ratio of 3.91 and a beta of 0.81.

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

TC Energy Cuts Dividend

The business also recently declared 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. The ex-dividend date is Friday, September 27th. This represents a $2.81 annualized dividend and a yield of 6.04%. TC Energy's dividend payout ratio (DPR) is 116.39%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Capital Research Global Investors lifted its position in TC Energy by 2.7% during the 1st quarter. Capital Research Global Investors now owns 57,170,304 shares of the pipeline company's stock valued at $2,297,701,000 after purchasing an additional 1,492,315 shares during the period. Vanguard Group Inc. lifted its position in TC Energy by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 41,057,330 shares of the pipeline company's stock valued at $1,650,505,000 after purchasing an additional 653,031 shares during the period. Canada Pension Plan Investment Board lifted its position in 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 valued at $737,609,000 after purchasing an additional 10,065,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in TC Energy by 94.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company's stock valued at $688,534,000 after purchasing an additional 8,339,800 shares during the period. Finally, TD Asset Management Inc raised its position in shares of TC Energy by 9.5% in the 1st quarter. TD Asset Management Inc now owns 16,763,150 shares of the pipeline company's stock valued at $674,366,000 after acquiring an additional 1,458,732 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

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.