US Capital Advisors Boosts Earnings Estimates for TC Energy

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Equities research analysts at US Capital Advisors raised their FY2024 earnings per share estimates for TC Energy in a report issued on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings per share of $3.16 for the year, up from their previous estimate of $2.91. The consensus estimate for TC Energy’s current full-year earnings is $2.98 per share. US Capital Advisors also issued estimates for TC Energy’s Q4 2024 earnings at $0.65 EPS, Q1 2025 earnings at $0.68 EPS, Q2 2025 earnings at $0.54 EPS, Q3 2025 earnings at $0.63 EPS, Q4 2025 earnings at $0.65 EPS, FY2025 earnings at $2.50 EPS and FY2026 earnings at $2.41 EPS.

TRP has been the subject of several other reports. Veritas upgraded TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. BMO Capital Markets raised their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. StockNews.com started coverage on shares of TC Energy in a report on Tuesday. They issued a “hold” rating for the company. Finally, Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $55.67.

TC Energy Stock Down 0.7 %

Shares of NYSE:TRP opened at $48.41 on Thursday. The business’s 50 day moving average is $47.43 and its 200 day moving average is $43.48. The stock has a market cap of $50.25 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81. TC Energy has a 52-week low of $31.83 and a 52-week high of $50.37. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.06. The company 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%.

Institutional Investors Weigh In On TC Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of TRP. Centerstone Investors LLC increased its position in shares of TC Energy by 3.4% during the third quarter. Centerstone Investors LLC now owns 328,440 shares of the pipeline company’s stock worth $14,550,000 after purchasing an additional 10,890 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in TC Energy during the 3rd quarter worth $186,000. TD Private Client Wealth LLC increased its position in TC Energy by 2.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 65,595 shares of the pipeline company’s stock valued at $3,122,000 after buying an additional 1,676 shares in the last quarter. Geode Capital Management LLC raised its stake in TC Energy by 8.3% in the third quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock valued at $225,890,000 after buying an additional 360,548 shares during the last quarter. Finally, Executive Wealth Management LLC acquired a new stake in TC Energy in the third quarter worth about $443,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.822 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.79%. This is an increase from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s payout ratio is presently 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.