TC Energy FY2024 EPS Decreased by National Bank Financial

TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP - Investment analysts at National Bank Financial cut their FY2024 earnings estimates for shares of TC Energy in a research report issued on Monday, January 6th. National Bank Financial analyst P. Kenny now anticipates that the pipeline company will post earnings of $2.89 per share for the year, down from their prior forecast of $2.97. The consensus estimate for TC Energy's current full-year earnings is $3.00 per share. National Bank Financial also issued estimates for TC Energy's FY2028 earnings at $3.30 EPS.

Several other equities research analysts have also issued reports on TRP. JPMorgan Chase & Co. raised TC Energy from a "neutral" rating to an "overweight" rating in a research report on Monday, October 14th. UBS Group raised shares of TC Energy from a "neutral" rating to a "buy" rating in a report on Monday, September 30th. StockNews.com started coverage on shares of TC Energy in a report on Wednesday, December 4th. They issued a "hold" rating for the company. BMO Capital Markets increased their price objective on shares of TC Energy from $66.00 to $70.00 and gave the stock a "market perform" rating in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group lifted their target price on TC Energy from $38.00 to $42.00 and gave the company a "sell" rating in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $55.67.

TC Energy Stock Up 0.0 %

NYSE TRP traded up $0.01 on Wednesday, hitting $47.78. 1,259,612 shares of the stock traded hands, compared to its average volume of 1,416,501. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The stock has a 50-day moving average of $47.70 and a 200 day moving average of $45.19. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.37. The company has a market capitalization of $49.63 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 3.88 and a beta of 0.82.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%.

Institutional Trading of TC Energy

Several large investors have recently added to or reduced their stakes in TRP. Fortitude Family Office LLC bought a new position in shares of TC Energy in the third quarter valued at approximately $28,000. Blue Trust Inc. lifted its position in TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock worth $30,000 after purchasing an additional 267 shares during the period. Versant Capital Management Inc bought a new position in TC Energy during the 4th quarter valued at $33,000. Point72 DIFC Ltd acquired a new position in shares of TC Energy during the 3rd quarter valued at $39,000. Finally, Farther Finance Advisors LLC raised its stake in shares of TC Energy by 215.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,209 shares of the pipeline company's stock worth $57,000 after buying an additional 826 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.822 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from TC Energy's previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a dividend yield of 6.88%. TC Energy's payout ratio is currently 67.31%.

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.