TC Energy FY2024 EPS Decreased by National Bank Financial

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Stock analysts at National Bank Financial reduced their FY2024 earnings per share (EPS) estimates for TC Energy in a 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.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The company 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%.

Several other research firms have 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. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. StockNews.com initiated coverage on shares of TC Energy in a report on Wednesday, December 4th. They issued a “hold” rating for the company. The Goldman Sachs Group upped their price objective on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. Finally, UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $55.67.

TC Energy Stock Performance

Shares of TRP opened at $47.73 on Wednesday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. TC Energy has a one year low of $31.83 and a one year high of $50.37. The company’s fifty day moving average price is $47.70 and its 200 day moving average price is $45.19. The company has a market capitalization of $49.58 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 3.88 and a beta of 0.82.

Hedge Funds Weigh In On TC Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Natixis Advisors LLC increased its position in TC Energy by 2.3% in the 2nd quarter. Natixis Advisors LLC now owns 44,561 shares of the pipeline company’s stock valued at $1,689,000 after acquiring an additional 1,017 shares in the last quarter. Private Advisor Group LLC boosted its stake in TC Energy by 4.7% during the 2nd quarter. Private Advisor Group LLC now owns 25,592 shares of the pipeline company’s stock worth $970,000 after acquiring an additional 1,142 shares during the last quarter. Acadian Asset Management LLC acquired a new position in TC Energy during the second quarter valued at approximately $1,510,000. Ashton Thomas Private Wealth LLC bought a new stake in TC Energy in the second quarter valued at approximately $51,000. Finally, United Services Automobile Association boosted its position in shares of TC Energy by 4.7% during the second quarter. United Services Automobile Association now owns 38,050 shares of the pipeline company’s stock worth $1,442,000 after purchasing an additional 1,711 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.822 per share. This represents a $3.29 annualized dividend and a dividend yield of 6.89%. 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 dividend payout ratio (DPR) is 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.