National Bank Financial Weighs in on TC Energy Q3 Earnings

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Research analysts at National Bank Financial issued their Q3 2024 earnings per share (EPS) estimates for shares of TC Energy in a research note issued to investors on Wednesday, October 23rd. National Bank Financial analyst P. Kenny expects that the pipeline company will post earnings per share of $0.73 for the quarter. The consensus estimate for TC Energy’s current full-year earnings is $3.02 per share.

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, beating analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same period last year, the company posted $0.71 earnings per share.

TRP has been the subject of several other research reports. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. StockNews.com began coverage on TC Energy in a research note on Saturday, October 5th. They set a “hold” rating on the stock. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday. Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. Finally, The Goldman Sachs Group boosted their price target on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $48.50.

TC Energy Trading 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 current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. The company has a 50-day moving average of $46.14 and a two-hundred day moving average of $41.44. The company has a market cap of $47.26 billion, a PE ratio of 24.36, a P/E/G ratio of 3.92 and a beta of 0.81.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be paid a $0.702 dividend. This represents a $2.81 annualized dividend and a yield of 5.94%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s payout ratio is presently 146.39%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Financial Advocates Investment Management lifted its holdings in shares of TC Energy by 7.8% in the third quarter. Financial Advocates Investment Management now owns 6,950 shares of the pipeline company’s stock valued at $331,000 after purchasing an additional 501 shares in the last quarter. GSB Wealth Management LLC acquired a new stake in TC Energy in the third quarter valued at $244,000. Fortitude Family Office LLC bought a new position in shares of TC Energy in the 3rd quarter valued at about $28,000. Asahi Life Asset Management CO. LTD. acquired a new position in shares of TC Energy during the 3rd quarter worth about $443,000. Finally, Inscription Capital LLC bought a new stake in shares of TC Energy in the 3rd quarter valued at about $237,000. 83.13% of the stock is currently owned by institutional investors.

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.