TC Energy FY2024 EPS Forecast Cut by National Bank Financial

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Stock analysts at National Bank Financial lowered their FY2024 earnings per share estimates for shares of TC Energy in a research note issued to investors on Monday, January 6th. National Bank Financial analyst P. Kenny now forecasts that the pipeline company will post earnings of $2.89 per share for the year, down from their prior forecast of $2.97. The consensus estimate for TC Energy’s current full-year earnings is $3.00 per share. National Bank Financial also issued estimates for TC Energy’s FY2028 earnings at $3.30 EPS.

Several other analysts also recently weighed in on the company. StockNews.com assumed coverage on TC Energy in a research note on Wednesday, December 4th. They set a “hold” rating on the stock. BMO Capital Markets boosted their price target on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Finally, The Goldman Sachs Group increased 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, TC Energy currently has an average rating of “Hold” and a consensus target price of $55.67.

TC Energy Stock Performance

TC Energy stock opened at $47.78 on Wednesday. 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 company has a 50 day moving average price of $47.72 and a 200-day moving average price of $45.21. The company has a market capitalization of $49.63 billion, a PE ratio of 13.24, a P/E/G ratio of 3.88 and a beta of 0.82. TC Energy has a fifty-two week low of $31.83 and a fifty-two week high of $50.37.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TRP. Fortitude Family Office LLC purchased a new stake in shares of TC Energy in the 3rd quarter valued at about $28,000. Blue Trust Inc. lifted its holdings in shares of TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after buying an additional 267 shares during the period. Versant Capital Management Inc purchased a new stake in shares of TC Energy during the 4th quarter worth $33,000. Point72 DIFC Ltd acquired a new position in TC Energy during the third quarter worth about $39,000. Finally, Farther Finance Advisors LLC boosted its position in TC Energy by 215.7% during the third quarter. Farther Finance Advisors LLC now owns 1,209 shares of the pipeline company’s stock worth $57,000 after purchasing an additional 826 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.822 dividend. This represents a $3.29 annualized dividend and a yield of 6.88%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is 67.31%.

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.