National Bank Financial Estimates TC Energy Q3 Earnings

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Research analysts at National Bank Financial issued their Q3 2024 EPS estimates for shares of TC Energy in a report issued 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 posted its earnings results on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. The company 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 period in the previous year, the business earned $0.71 earnings per share.

TRP has been the topic of several other research reports. Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday. Finally, StockNews.com initiated coverage on TC Energy in a research report on Saturday, October 5th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $48.50.

TC Energy Price Performance

Shares of NYSE TRP opened at $47.26 on Friday. 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’s 50-day moving average price is $46.20 and its 200 day moving average price is $41.50. TC Energy has a 52 week low of $30.61 and a 52 week high of $48.25. The stock has a market cap of $47.26 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 3.92 and a beta of 0.81.

TC Energy Cuts Dividend

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

Institutional Trading of TC Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRP. Murchinson Ltd. acquired a new stake in shares of TC Energy in the first quarter worth approximately $506,485,000. Canada Pension Plan Investment Board grew its stake in shares of TC Energy by 107.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after buying an additional 10,065,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of TC Energy by 94.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company’s stock valued at $688,534,000 after buying an additional 8,339,800 shares during the period. Merewether Investment Management LP acquired a new stake in shares of TC Energy during the 2nd quarter worth $112,618,000. Finally, M&G Plc purchased a new position in shares of TC Energy in the 1st quarter worth $111,587,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

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.