National Bank Financial Forecasts TC Energy Q4 Earnings

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Equities researchers at National Bank Financial issued their Q4 2024 earnings per share estimates for TC Energy in a research report issued to clients and investors on Tuesday, January 28th. National Bank Financial analyst P. Kenny forecasts that the pipeline company will earn $0.68 per share for the quarter. The consensus estimate for TC Energy’s current full-year earnings is $2.95 per share.

TRP has been the subject of a number of other reports. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. The Goldman Sachs Group increased their price objective 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. BMO Capital Markets upped their target price 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. Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, TC Energy presently has a consensus rating of “Hold” and an average price target of $56.00.

TC Energy Price Performance

NYSE:TRP opened at $45.27 on Thursday. The firm has a market capitalization of $47.04 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 4.45 and a beta of 0.82. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The business has a 50 day simple moving average of $47.19 and a 200-day simple moving average of $46.09. TC Energy has a 1 year low of $31.83 and a 1 year high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations 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 disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.822 dividend. The ex-dividend date of this dividend 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 yield of 7.26%. TC Energy’s dividend payout ratio is 63.16%.

Hedge Funds Weigh In On TC Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Addenda Capital Inc. lifted its holdings in TC Energy by 4.4% during the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock worth $48,135,000 after buying an additional 43,639 shares during the period. Captrust Financial Advisors lifted its stake in shares of TC Energy by 1.3% during the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after purchasing an additional 242 shares during the last quarter. Ritholtz Wealth Management boosted its position in TC Energy by 44.8% during the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock valued at $1,115,000 after purchasing an additional 7,412 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in TC Energy in the third quarter valued at about $3,771,000. Finally, Harvest Portfolios Group Inc. raised 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 worth $10,743,000 after purchasing an additional 117,176 shares in the last quarter. 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.