US Capital Advisors Predicts Higher Earnings for TC Energy

TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP - Investment analysts at US Capital Advisors upped their FY2024 earnings per share estimates for shares of TC Energy in a report released on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will post earnings of $3.16 per share for the year, up from their previous estimate of $2.91. The consensus estimate for TC Energy's current full-year earnings is $2.98 per share. US Capital Advisors also issued estimates for TC Energy's Q4 2024 earnings at $0.65 EPS, Q1 2025 earnings at $0.68 EPS, Q2 2025 earnings at $0.54 EPS, Q3 2025 earnings at $0.63 EPS, Q4 2025 earnings at $0.65 EPS, FY2025 earnings at $2.50 EPS and FY2026 earnings at $2.41 EPS.

TRP has been the subject of several other research reports. BMO Capital Markets increased their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a "market perform" rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. upgraded TC Energy from a "neutral" rating to an "overweight" rating in a research report on Monday, October 14th. StockNews.com initiated coverage on TC Energy in a research report on Tuesday. They set a "hold" rating on the stock. UBS Group raised TC Energy from a "neutral" rating to a "buy" rating in a research report on Monday, September 30th. Finally, Morgan Stanley upgraded shares of TC Energy from an "underweight" rating to an "overweight" rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $55.67.

TC Energy Stock Performance

TC Energy stock traded down $0.33 during mid-day trading on Thursday, reaching $48.41. The company had a trading volume of 2,809,490 shares, compared to its average volume of 3,054,366. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The firm has a market cap of $50.25 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 4.12 and a beta of 0.81. The company has a 50 day moving average of $47.36 and a 200-day moving average of $43.45. TC Energy has a 52 week low of $31.83 and a 52 week high of $50.37.

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

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.822 dividend. This represents a $3.29 annualized dividend and a dividend yield of 6.79%. 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. TC Energy's payout ratio is currently 67.31%.

Institutional Investors Weigh In On TC Energy

A number of hedge funds have recently made changes to their positions in the company. Centerstone Investors LLC raised its holdings in shares of TC Energy by 3.4% in the third quarter. Centerstone Investors LLC now owns 328,440 shares of the pipeline company's stock valued at $14,550,000 after buying an additional 10,890 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in TC Energy in the 3rd quarter valued at about $186,000. TD Private Client Wealth LLC raised its stake in shares of TC Energy by 2.6% in the third quarter. TD Private Client Wealth LLC now owns 65,595 shares of the pipeline company's stock worth $3,122,000 after acquiring an additional 1,676 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of TC Energy by 8.3% during the third quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company's stock worth $225,890,000 after purchasing an additional 360,548 shares in the last quarter. Finally, Executive Wealth Management LLC bought a new stake in shares of TC Energy during the third quarter valued at approximately $443,000. Institutional investors and hedge funds own 83.13% of the company's stock.

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.