TC Energy FY2024 EPS Estimate Boosted by Atb Cap Markets

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Research analysts at Atb Cap Markets raised their FY2024 EPS estimates for TC Energy in a report released on Tuesday, November 19th. Atb Cap Markets analyst N. Heywood now expects that the pipeline company will post earnings per share of $2.94 for the year, up from their previous forecast of $2.93. The consensus estimate for TC Energy’s current full-year earnings is $2.98 per share. Atb Cap Markets also issued estimates for TC Energy’s Q2 2025 earnings at $0.58 EPS, Q3 2025 earnings at $0.67 EPS, FY2025 earnings at $2.82 EPS and FY2026 earnings at $2.95 EPS.

TRP has been the topic of several other reports. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group raised their target price on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, TC Energy has a consensus rating of “Hold” and an average target price of $55.67.

TC Energy Stock Performance

Shares of TC Energy stock opened at $50.22 on Thursday. The firm has a market capitalization of $52.12 billion, a P/E ratio of 13.91, a P/E/G ratio of 4.19 and a beta of 0.81. TC Energy has a 52 week low of $31.83 and a 52 week high of $50.29. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The firm’s 50 day moving average is $47.16 and its two-hundred day moving average is $43.10.

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

TC Energy Increases Dividend

The firm 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. The ex-dividend date is Tuesday, December 31st. This is a positive change 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 6.55%. TC Energy’s dividend payout ratio (DPR) is 78.95%.

Hedge Funds Weigh In On TC Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cetera Investment Advisers grew its position in TC Energy by 74.1% in the 1st quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock valued at $3,972,000 after buying an additional 42,024 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in TC Energy by 2.6% in the second quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company’s stock valued at $322,584,000 after acquiring an additional 214,689 shares during the period. Harvest Portfolios Group Inc. lifted its holdings in TC Energy by 107.7% in the third quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock valued at $10,743,000 after acquiring an additional 117,176 shares during the period. Legal & General Group Plc lifted its holdings 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 valued at $450,749,000 after acquiring an additional 467,497 shares during the period. Finally, Metis Global Partners LLC lifted its holdings in TC Energy by 16.3% in the third quarter. Metis Global Partners LLC now owns 95,470 shares of the pipeline company’s stock valued at $4,538,000 after acquiring an additional 13,368 shares during the period. 83.13% of the stock is currently owned by hedge funds and other 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.