Atb Cap Markets Analysts Increase Earnings Estimates for TC Energy Co. (NYSE:TRP)

by · The Cerbat Gem

TC Energy Co. (NYSE:TRP – Free Report) (TSE:TRP) – Equities researchers at Atb Cap Markets lifted their Q3 2024 earnings per share estimates for shares of TC Energy in a research report issued on Wednesday, October 2nd. Atb Cap Markets analyst N. Heywood now expects that the pipeline company will post earnings per share of $0.74 for the quarter, up from their previous estimate of $0.72. The consensus estimate for TC Energy’s current full-year earnings is $3.08 per share.

A number of other brokerages have also commented on TRP. Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. StockNews.com began coverage on TC Energy in a report on Saturday. They issued a “hold” rating for the company. Finally, UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $43.50.

Read Our Latest Research Report on TC Energy

TC Energy Stock Performance

TRP stock opened at $44.69 on Monday. TC Energy has a 52 week low of $33.47 and a 52 week high of $48.42. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. The stock has a market cap of $46.37 billion, a P/E ratio of 23.03, a P/E/G ratio of 3.66 and a beta of 0.81. The firm has a 50 day simple moving average of $45.23 and a 200 day simple moving average of $40.84.

TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last released its earnings results on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the firm earned $0.71 EPS.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.702 per share. The ex-dividend date is Friday, September 27th. This represents a $2.81 annualized dividend and a dividend yield of 6.28%. TC Energy’s dividend payout ratio is 146.91%.

Hedge Funds Weigh In On TC Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC bought a new stake in shares of TC Energy during the 1st quarter valued at about $1,159,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in TC Energy by 15.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,109,055 shares of the pipeline company’s stock valued at $81,599,000 after buying an additional 278,886 shares in the last quarter. M&G Plc purchased a new stake in shares of TC Energy in the first quarter worth $111,587,000. Cetera Investment Advisers grew its holdings in shares of TC Energy by 74.1% during the first quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock worth $3,972,000 after purchasing an additional 42,024 shares in the last quarter. Finally, Maryland State Retirement & Pension System increased its holdings in shares of TC Energy by 1.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 1,302,358 shares of the pipeline company’s stock worth $52,355,000 after buying an additional 22,430 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Company Profile

(Get Free Report)

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.

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