Research Analysts Issue Forecasts for TC Energy Q4 Earnings

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

TC Energy (NYSE:TRP) (TSE:TRP) last announced 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. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.83 billion.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. TD Securities initiated coverage on TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. StockNews.com initiated coverage on TC Energy in a report on Wednesday, December 4th. They issued a “hold” rating for the company. Finally, Veritas raised TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, TC Energy presently has an average rating of “Hold” and a consensus price target of $56.00.

TC Energy Stock Performance

Shares of TC Energy stock opened at $45.38 on Thursday. TC Energy has a one year low of $31.83 and a one year high of $50.37. The company has a market cap of $47.16 billion, a PE ratio of 12.57, a P/E/G ratio of 4.45 and a beta of 0.82. 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 business has a 50-day simple moving average of $47.26 and a 200-day simple moving average of $46.10.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders 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 represents a $3.29 dividend on an annualized basis and a yield of 7.25%. This is a boost from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s payout ratio is currently 63.43%.

Institutional Investors Weigh In On TC Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of TC Energy by 156.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after purchasing an additional 4,126,801 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of TC Energy during the third quarter worth approximately $73,162,000. Merewether Investment Management LP raised its stake in shares of TC Energy by 37.9% during the third quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock worth $194,776,000 after purchasing an additional 1,127,000 shares during the last quarter. Duff & Phelps Investment Management Co. raised its stake in shares of TC Energy by 70.7% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,763,915 shares of the pipeline company’s stock worth $83,874,000 after purchasing an additional 730,415 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP raised its stake in shares of TC Energy by 29.2% during the third quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company’s stock worth $152,072,000 after purchasing an additional 722,619 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

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.