National Bank Financial Comments on TC Energy Co.’s FY2024 Earnings (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Research analysts at National Bank Financial dropped their FY2024 EPS estimates for shares of TC Energy in a research report issued on Wednesday, October 2nd. National Bank Financial analyst P. Kenny now expects that the pipeline company will earn $3.03 per share for the year, down from their previous forecast of $3.04. The consensus estimate for TC Energy’s current full-year earnings is $3.08 per share.

TRP has been the topic of several other research reports. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. StockNews.com assumed coverage on shares of TC Energy in a research report on Saturday. They issued a “hold” rating on the stock. Finally, UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $43.50.

TC Energy Trading Up 1.7 %

Shares of NYSE:TRP opened at $45.11 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. The company has a market capitalization of $46.81 billion, a PE ratio of 23.25, a P/E/G ratio of 3.57 and a beta of 0.81. TC Energy has a 12-month low of $32.56 and a 12-month high of $48.42. The business’s fifty day simple moving average is $45.17 and its 200-day simple moving average is $40.80.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. EdgeRock Capital LLC purchased a new position in shares of TC Energy in the second quarter worth about $25,000. Creekmur Asset Management LLC acquired a new stake in TC Energy during the 4th quarter valued at approximately $27,000. Whittier Trust Co. of Nevada Inc. lifted its stake in TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 429 shares during the period. OLD Point Trust & Financial Services N A purchased a new stake in shares of TC Energy in the 4th quarter valued at $31,000. Finally, Mather Group LLC. acquired a new stake in shares of TC Energy in the second quarter worth $33,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a $0.702 dividend. This represents a $2.81 dividend on an annualized basis and a yield of 6.22%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is presently 146.91%.

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.