US Capital Advisors Predicts Higher Earnings for TC Energy

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Research analysts at US Capital Advisors upped their FY2024 earnings per share estimates for TC Energy in a research report issued to clients and investors on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings per share of $3.16 for the year, up from their previous forecast 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.

A number of other equities research analysts have also issued reports on the company. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. BMO Capital Markets increased their target price on 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 began coverage on TC Energy in a report on Tuesday. They issued a “hold” rating on the stock. Veritas raised shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group boosted 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $55.67.

TC Energy Stock Performance

Shares of NYSE TRP opened at $48.41 on Thursday. The stock has a market cap of $50.25 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81. TC Energy has a 1 year low of $31.83 and a 1 year high of $50.37. The firm has a fifty day moving average price of $47.43 and a 200-day moving average price of $43.48. 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 (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion.

Institutional Investors Weigh In On TC Energy

Large investors have recently bought and sold shares of the business. Canada Pension Plan Investment Board grew its stake in shares of TC Energy by 107.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock worth $737,609,000 after buying an additional 10,065,000 shares in the last quarter. Legal & General Group Plc grew its position in TC Energy by 4.1% in the second quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock worth $450,749,000 after acquiring an additional 467,497 shares in the last quarter. CIBC Asset Management Inc increased its stake in TC Energy by 2.6% during the second quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company’s stock worth $322,584,000 after acquiring an additional 214,689 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in TC Energy by 156.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock valued at $321,778,000 after purchasing an additional 4,126,801 shares during the period. Finally, Cardinal Capital Management Inc. lifted its stake in shares of TC Energy by 101.4% in the 2nd quarter. Cardinal Capital Management Inc. now owns 5,068,758 shares of the pipeline company’s stock valued at $192,024,000 after purchasing an additional 2,551,926 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.822 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.79%. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio is currently 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.