TC Energy FY2024 EPS Forecast Boosted by Atb Cap Markets

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Research analysts at Atb Cap Markets raised their FY2024 earnings per share estimates for TC Energy in a note issued to investors on Thursday, February 6th. Atb Cap Markets analyst N. Heywood now forecasts that the pipeline company will post earnings per share of $2.95 for the year, up from their prior estimate of $2.94. The consensus estimate for TC Energy’s current full-year earnings is $2.92 per share.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. BMO Capital Markets upped their price objective on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. TD Securities began coverage on TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, TC Energy has an average rating of “Hold” and a consensus price target of $56.00.

TC Energy Stock Performance

TRP opened at $47.19 on Monday. The business’s 50-day simple moving average is $46.78 and its 200 day simple moving average is $46.40. TC Energy has a 52-week low of $31.83 and a 52-week 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 firm has a market capitalization of $49.04 billion, a PE ratio of 13.07, a PEG ratio of 4.45 and a beta of 0.81.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Addenda Capital Inc. grew its stake in shares of TC Energy by 4.4% in the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock valued at $48,135,000 after acquiring an additional 43,639 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of TC Energy by 1.3% in the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after buying an additional 242 shares during the period. Ritholtz Wealth Management increased its position in shares of TC Energy by 44.8% in the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock worth $1,115,000 after purchasing an additional 7,412 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of TC Energy during the 3rd quarter worth approximately $3,771,000. Finally, Harvest Portfolios Group Inc. increased its stake in shares of TC Energy by 107.7% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock valued at $10,743,000 after purchasing an additional 117,176 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

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.