Q3 Earnings Forecast for TC Energy Issued By Atb Cap Markets

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Analysts at Atb Cap Markets dropped their Q3 2024 EPS estimates for TC Energy in a report released on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now forecasts that the pipeline company will post earnings of $0.68 per share for the quarter, down from their previous estimate of $0.74. The consensus estimate for TC Energy’s current full-year earnings is $3.02 per share.

Several other equities analysts have also weighed in on the stock. Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group upped their price objective on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Finally, UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $48.50.

TC Energy Stock Up 0.6 %

Shares of NYSE:TRP opened at $47.26 on Friday. TC Energy has a 1 year low of $30.61 and a 1 year high of $48.25. The company has a market capitalization of $47.26 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81. The business has a fifty day moving average price of $46.14 and a two-hundred day moving average price of $41.44. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same quarter in the previous year, the business earned $0.71 EPS.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a dividend of $0.702 per share. The ex-dividend date is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 5.94%. TC Energy’s payout ratio is 146.39%.

Hedge Funds Weigh In On TC Energy

Large investors have recently modified their holdings of the company. Fortitude Family Office LLC bought a new position in TC Energy in the 3rd quarter valued at $28,000. Blue Trust Inc. raised its position 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 buying an additional 267 shares in the last quarter. EdgeRock Capital LLC purchased a new position in TC Energy during the second quarter worth about $25,000. Whittier Trust Co. of Nevada Inc. increased its stake in TC Energy by 138.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 429 shares during the last quarter. Finally, Mather Group LLC. purchased a new stake in shares of TC Energy in the 2nd quarter valued at about $33,000. 83.13% of the stock is currently 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.