US Capital Advisors Forecasts Higher Earnings for TC Energy

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Equities research analysts at US Capital Advisors lifted their Q3 2024 earnings per share (EPS) estimates for TC Energy in a note issued to investors on Monday, October 28th. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings of $0.77 per share for the quarter, up from their previous forecast of $0.72. 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 Q4 2024 earnings at $0.63 EPS and Q4 2025 earnings at $0.62 EPS.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same period in the prior year, the business posted $0.71 earnings per share.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group boosted their price target on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. Veritas upgraded TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Finally, Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, TC Energy presently has an average rating of “Hold” and an average target price of $48.50.

TC Energy Price Performance

NYSE:TRP opened at $46.79 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. TC Energy has a 12 month low of $30.66 and a 12 month high of $48.25. The business’s 50-day moving average is $46.24 and its 200 day moving average is $41.63. The company has a market capitalization of $48.56 billion, a P/E ratio of 19.18, a P/E/G ratio of 3.91 and a beta of 0.81.

Institutional Investors Weigh In On TC Energy

Several hedge funds and other institutional investors have recently bought and sold shares of TRP. Sumitomo Mitsui Trust Holdings Inc. lifted its position in TC Energy by 0.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,444,328 shares of the pipeline company’s stock valued at $98,300,000 after buying an additional 18,363 shares during the last quarter. Norden Group LLC purchased a new stake in TC Energy during the first quarter worth about $354,000. Maryland State Retirement & Pension System lifted its position in shares of TC Energy by 1.8% during the first quarter. Maryland State Retirement & Pension System now owns 1,302,358 shares of the pipeline company’s stock worth $52,355,000 after purchasing an additional 22,430 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of TC Energy by 2.5% in the first quarter. Commonwealth Equity Services LLC now owns 97,055 shares of the pipeline company’s stock valued at $3,902,000 after purchasing an additional 2,338 shares during the period. Finally, Private Advisor Group LLC increased its stake in TC Energy by 359.4% during the 1st quarter. Private Advisor Group LLC now owns 24,450 shares of the pipeline company’s stock worth $983,000 after buying an additional 19,128 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a $0.702 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a yield of 6.00%. TC Energy’s payout ratio is 116.80%.

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.