Q4 Earnings Forecast for TC Energy Issued By Atb Cap Markets

TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP - Investment analysts at Atb Cap Markets lowered their Q4 2024 earnings per share estimates for shares of TC Energy in a note issued to investors on Thursday, November 7th. Atb Cap Markets analyst N. Heywood now forecasts that the pipeline company will earn $0.62 per share for the quarter, down from their previous forecast of $0.65. The consensus estimate for TC Energy's current full-year earnings is $2.99 per share.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 12.96% and a net margin of 31.15%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion.

A number of other equities research analysts also recently weighed in on TRP. JPMorgan Chase & Co. raised TC Energy from a "neutral" rating to an "overweight" rating in a research report on Monday, October 14th. Veritas raised TC Energy to a "strong sell" rating in a research report on Tuesday, October 8th. The Goldman Sachs Group raised their price objective on TC Energy from $38.00 to $42.00 and gave the company a "sell" rating in a research report on Monday, October 21st. Morgan Stanley raised TC Energy from an "underweight" rating to an "overweight" rating in a research report on Friday, October 25th. Finally, StockNews.com initiated coverage on TC Energy in a research report on Saturday, October 5th. They set a "hold" rating on the stock. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $48.50.

TC Energy Stock Up 1.7 %

TRP stock traded up $0.83 during trading on Monday, reaching $49.59. 1,187,612 shares of the company traded hands, compared to its average volume of 3,108,571. TC Energy has a 12 month low of $31.83 and a 12 month high of $50.22. The business has a 50 day simple moving average of $46.64 and a 200 day simple moving average of $42.37. The company has a market capitalization of $51.47 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 4.04 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.822 dividend. The ex-dividend date is Tuesday, December 31st. This is a boost from TC Energy's previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a yield of 6.63%. TC Energy's dividend payout ratio (DPR) is 91.14%.

Institutional Investors Weigh In On TC Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of TC Energy in the first quarter worth about $104,000. Atomi Financial Group Inc. purchased a new position in shares of TC Energy in the first quarter worth about $219,000. Headlands Technologies LLC raised its stake in shares of TC Energy by 49,890.3% in the first quarter. Headlands Technologies LLC now owns 15,497 shares of the pipeline company's stock worth $623,000 after purchasing an additional 15,466 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of TC Energy by 0.3% in the first quarter. Russell Investments Group Ltd. now owns 1,262,444 shares of the pipeline company's stock worth $50,785,000 after purchasing an additional 3,801 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its stake in shares of TC Energy by 8.8% in the first quarter. Bleakley Financial Group LLC now owns 124,228 shares of the pipeline company's stock worth $4,994,000 after purchasing an additional 10,044 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other 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.