FY2024 EPS Estimates for TC Energy Co. (NYSE:TRP) Lifted by Zacks Research

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Equities research analysts at Zacks Research increased their FY2024 earnings per share estimates for shares of TC Energy in a research report issued to clients and investors on Tuesday, July 23rd. Zacks Research analyst T. Saha now forecasts that the pipeline company will earn $2.93 per share for the year, up from their prior estimate of $2.89. The consensus estimate for TC Energy’s current full-year earnings is $3.03 per share. Zacks Research also issued estimates for TC Energy’s Q2 2026 earnings at $0.75 EPS.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, May 3rd. The pipeline company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. The firm had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.12 billion. TC Energy had a return on equity of 17.94% and a net margin of 17.23%.

Separately, Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $48.83.

TC Energy Price Performance

TRP stock opened at $41.49 on Wednesday. The stock has a 50-day moving average price of $38.92 and a two-hundred day moving average price of $38.75. The stock has a market cap of $41.49 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 3.41 and a beta of 0.79. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.64. TC Energy has a 1 year low of $32.51 and a 1 year high of $42.04.

Hedge Funds Weigh In On TC Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of TRP. Murchinson Ltd. bought a new position in TC Energy during the first quarter worth about $506,485,000. Capital Research Global Investors grew its holdings in TC Energy by 23.7% during the fourth quarter. Capital Research Global Investors now owns 55,677,989 shares of the pipeline company’s stock worth $2,174,931,000 after purchasing an additional 10,654,993 shares during the period. Norges Bank bought a new position in TC Energy during the fourth quarter worth about $341,262,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in TC Energy by 94.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company’s stock worth $688,534,000 after acquiring an additional 8,339,800 shares during the last quarter. Finally, Mufg Securities Canada LTD. acquired a new stake in TC Energy during the fourth quarter worth approximately $235,580,000. Institutional investors own 83.13% of the company’s stock.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 6.85%. The ex-dividend date is Friday, June 28th. TC Energy’s payout ratio is currently 144.33%.

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.