TC Energy Co. (NYSE:TRP) to Post Q2 2024 Earnings of $0.67 Per Share, National Bank Financial Forecasts

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Equities researchers at National Bank Financial issued their Q2 2024 earnings estimates for shares of TC Energy in a note issued to investors on Wednesday, July 24th. National Bank Financial analyst P. Kenny anticipates that the pipeline company will post earnings of $0.67 per share for the quarter. The consensus estimate for TC Energy’s current full-year earnings is $3.03 per share.

Separately, Barclays raised shares of 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 assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $48.83.

TC Energy Trading Up 1.2 %

Shares of TC Energy stock opened at $41.97 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.85 and a current ratio of 0.94. The stock has a market capitalization of $41.97 billion, a P/E ratio of 21.63, a P/E/G ratio of 3.42 and a beta of 0.79. TC Energy has a 52-week low of $32.51 and a 52-week high of $42.04. The stock’s 50-day simple moving average is $38.98 and its 200 day simple moving average is $38.76.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09. The business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.12 billion. TC Energy had a return on equity of 17.94% and a net margin of 17.23%.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, June 28th. This represents a $2.84 annualized dividend and a dividend yield of 6.77%. TC Energy’s dividend payout ratio (DPR) is presently 144.85%.

Institutional Trading of TC Energy

A number of hedge funds have recently bought and sold shares of TRP. EdgeRock Capital LLC bought a new stake in shares of TC Energy in the 4th quarter worth approximately $25,000. Creekmur Asset Management LLC bought a new stake in TC Energy in the fourth quarter worth $27,000. Glassman Wealth Services boosted its position in TC Energy by 61.0% during the fourth quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock valued at $28,000 after buying an additional 275 shares during the period. OLD Point Trust & Financial Services N A bought a new position in shares of TC Energy during the fourth quarter valued at about $31,000. Finally, Mather Group LLC. purchased a new position in shares of TC Energy in the second quarter worth about $33,000. 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.