US Capital Advisors Predicts Lower Earnings for TC Energy

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Analysts at US Capital Advisors lowered their FY2024 earnings estimates for TC Energy in a research report issued to clients and investors on Monday, February 3rd. US Capital Advisors analyst J. Carreker now expects that the pipeline company will earn $2.92 per share for the year, down from their previous forecast of $3.16. US Capital Advisors has a “Moderate Buy” rating on the stock. The consensus estimate for TC Energy’s current full-year earnings is $2.95 per share.

A number of other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. BMO Capital Markets lifted their price objective on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. StockNews.com assumed coverage on TC Energy in a report on Wednesday, December 4th. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group upped their price target on 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 stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $56.00.

TC Energy Stock Down 0.3 %

TRP opened at $46.98 on Thursday. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.37. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The business has a 50 day moving average price of $46.85 and a 200 day moving average price of $46.29. The firm has a market cap of $48.81 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 4.31 and a beta of 0.81.

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

Institutional Trading of TC Energy

A number of hedge funds have recently modified their holdings of TRP. Fortitude Family Office LLC bought a new stake in TC Energy in the 3rd quarter valued at $28,000. Blue Trust Inc. boosted its position in shares of TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 267 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in TC Energy in the fourth quarter valued at about $31,000. Versant Capital Management Inc acquired a new position in TC Energy in the fourth quarter worth about $33,000. Finally, Synergy Investment Management LLC bought a new position in TC Energy during the fourth quarter worth about $36,000. Institutional investors own 83.13% of the company’s stock.

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.