TC Energy FY2024 EPS Estimate Boosted by US Capital Advisors

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Analysts at US Capital Advisors increased their FY2024 earnings per share estimates for TC Energy in a research note issued 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 prior 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.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%.

Other research analysts have also issued research reports about the company. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. StockNews.com began coverage on shares of TC Energy in a research note on Tuesday. They set a “hold” rating for the company. Finally, BMO Capital Markets raised their price target 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $55.67.

TC Energy Price Performance

Shares of NYSE TRP opened at $48.41 on Thursday. The company has a market capitalization of $50.25 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81. The business has a 50 day simple moving average of $47.36 and a 200-day simple moving average of $43.45. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.37. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.79%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is 67.31%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TRP. EdgeRock Capital LLC acquired a new position in shares of TC Energy during the second quarter valued at $25,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of TC Energy by 138.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 429 shares during the period. Fortitude Family Office LLC acquired a new position in shares of TC Energy during the third quarter valued at $28,000. Blue Trust Inc. increased its holdings in shares of TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 267 shares during the period. Finally, Mather Group LLC. bought a new position in TC Energy during the second quarter valued at about $33,000. 83.13% of the stock is owned by institutional investors and hedge funds.

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.