Equities Analysts Issue Forecasts for TC Energy Co.’s Q1 2024 Earnings (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Analysts at National Bank Financial issued their Q1 2024 earnings per share estimates for shares of TC Energy in a report issued on Tuesday, April 23rd. National Bank Financial analyst P. Kenny expects that the pipeline company will post earnings of $0.83 per share for the quarter. The consensus estimate for TC Energy’s current full-year earnings is $2.98 per share.

Several other equities analysts also recently weighed in on the company. Barclays boosted their target price on TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Stifel Nicolaus initiated coverage on TC Energy in a research report on Thursday, January 18th. They set a “buy” rating on the stock. Jefferies Financial Group initiated coverage on TC Energy in a research report on Tuesday, February 27th. They set a “hold” rating on the stock. TheStreet raised TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. Finally, The Goldman Sachs Group boosted their target price on TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $48.83.

TC Energy Stock Performance

NYSE TRP opened at $35.91 on Thursday. The company has a market cap of $35.91 billion, a P/E ratio of 17.69, a P/E/G ratio of 3.03 and a beta of 0.75. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 0.96. The business’s 50 day moving average price is $38.95 and its 200-day moving average price is $38.04. TC Energy has a fifty-two week low of $32.51 and a fifty-two week high of $42.49.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.93 billion. TC Energy had a return on equity of 18.60% and a net margin of 18.25%.

Institutional Investors Weigh In On TC Energy

Several hedge funds have recently made changes to their positions in TRP. Capital Research Global Investors lifted its holdings in shares of TC Energy by 23.7% in the 4th quarter. Capital Research Global Investors now owns 55,677,989 shares of the pipeline company’s stock worth $2,174,931,000 after buying an additional 10,654,993 shares during the period. Norges Bank purchased a new stake in shares of TC Energy in the 4th quarter worth $341,262,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of TC Energy by 70.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 16,540,018 shares of the pipeline company’s stock worth $569,058,000 after buying an additional 6,840,000 shares during the period. Mufg Securities Canada LTD. purchased a new stake in shares of TC Energy in the 4th quarter worth $235,580,000. Finally, Capital International Investors lifted its holdings in shares of TC Energy by 11.8% in the 4th quarter. Capital International Investors now owns 55,161,245 shares of the pipeline company’s stock worth $2,155,419,000 after buying an additional 5,822,056 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a $0.714 dividend. This represents a $2.86 annualized dividend and a dividend yield of 7.95%. This is a boost from TC Energy’s previous quarterly dividend of $0.67. The ex-dividend date is Wednesday, March 27th. TC Energy’s dividend payout ratio is currently 139.41%.

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.