Zacks Research Weighs in on TC Energy Co.’s Q2 2024 Earnings (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Equities research analysts at Zacks Research cut their Q2 2024 EPS estimates for shares of TC Energy in a research note issued to investors on Wednesday, April 24th. Zacks Research analyst T. Saha now forecasts that the pipeline company will earn $0.63 per share for the quarter, down from their prior estimate of $0.64. The consensus estimate for TC Energy’s current full-year earnings is $2.98 per share. Zacks Research also issued estimates for TC Energy’s Q1 2025 earnings at $0.79 EPS, Q2 2025 earnings at $0.66 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.72 EPS, FY2025 earnings at $2.76 EPS, Q1 2026 earnings at $0.79 EPS and FY2026 earnings at $2.93 EPS.

Several other research firms have also weighed in on TRP. Barclays increased their price objective on shares of TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. The Goldman Sachs Group increased their price objective on shares of TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. Stifel Nicolaus initiated coverage on shares of TC Energy in a research note on Thursday, January 18th. They set a “buy” rating on the stock. Jefferies Financial Group initiated coverage on shares of TC Energy in a research note on Tuesday, February 27th. They set a “hold” rating on the stock. Finally, TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $48.83.

TC Energy Stock Performance

Shares of TC Energy stock opened at $36.10 on Thursday. The firm has a market cap of $36.10 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 3.03 and a beta of 0.75. The firm’s 50-day simple moving average is $38.90 and its 200-day simple moving average is $38.03. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 0.96. TC Energy has a 1 year low of $32.51 and a 1 year high of $42.49.

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

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a $0.714 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.86 annualized dividend and a dividend yield of 7.91%. This is a positive change from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s dividend payout ratio (DPR) is presently 139.41%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TRP. EdgeRock Capital LLC bought a new position in shares of TC Energy in the fourth quarter valued at approximately $25,000. Bruce G. Allen Investments LLC bought a new position in shares of TC Energy in the fourth quarter valued at approximately $26,000. Creekmur Asset Management LLC bought a new position in shares of TC Energy in the fourth quarter valued at approximately $27,000. Glassman Wealth Services boosted its holdings in shares of TC Energy by 61.0% in the fourth quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 275 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A bought a new position in shares of TC Energy in the fourth quarter valued at approximately $31,000. 83.13% of the stock is currently owned by institutional investors.

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.