National Bank Financial Expects Lower Earnings for TC Energy

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Stock analysts at National Bank Financial cut their FY2024 earnings estimates for TC Energy in a research note issued to investors on Monday, January 6th. National Bank Financial analyst P. Kenny now forecasts 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 announced 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. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion.

Several other analysts have also issued reports on the stock. BMO Capital Markets upped their price target on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. StockNews.com initiated coverage on TC Energy in a report on Wednesday, December 4th. They set a “hold” rating for the company. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. The Goldman Sachs Group raised their target price on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. Finally, Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $55.67.

TC Energy Stock Up 0.8 %

NYSE:TRP opened at $47.73 on Wednesday. The firm has a market capitalization of $49.58 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 3.88 and a beta of 0.82. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.37. The stock’s 50 day moving average price is $47.70 and its two-hundred day moving average price is $45.19.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 annualized dividend and a dividend yield of 6.89%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is presently 67.31%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Fortitude Family Office LLC purchased a new stake in shares of TC Energy during the 3rd quarter valued at $28,000. Blue Trust Inc. grew its stake in shares of 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 last quarter. Versant Capital Management Inc purchased a new position in shares of TC Energy during the fourth quarter valued at approximately $33,000. Point72 DIFC Ltd bought a new position in TC Energy during the 3rd quarter valued at approximately $39,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in TC Energy in the 2nd quarter worth about $51,000. 83.13% of the stock is owned by institutional investors.

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.