FY2024 EPS Estimates for TC Energy Lifted by Zacks Research

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Equities researchers at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of TC Energy in a research report issued to clients and investors on Wednesday, February 5th. Zacks Research analyst T. Saha now forecasts that the pipeline company will post earnings per share of $3.02 for the year, up from their prior forecast of $2.99. The consensus estimate for TC Energy’s current full-year earnings is $2.95 per share. Zacks Research also issued estimates for TC Energy’s Q4 2024 earnings at $0.65 EPS and Q2 2026 earnings at $0.64 EPS.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%.

A number of other brokerages have also commented on TRP. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday. StockNews.com started coverage on shares of TC Energy in a research note on Wednesday, December 4th. They issued a “hold” rating for the company. BMO Capital Markets raised their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Finally, TD Securities assumed coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.00.

TC Energy Price Performance

NYSE TRP opened at $46.98 on Friday. TC Energy has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The stock’s 50-day moving average is $46.85 and its two-hundred day moving average is $46.29. The firm has a market cap of $48.81 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 4.31 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23.

Institutional Investors Weigh In On TC Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. NTV Asset Management LLC increased its position in TC Energy by 4.0% in the fourth quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company’s stock worth $288,000 after purchasing an additional 239 shares during the period. Captrust Financial Advisors raised its stake in shares of TC Energy by 1.3% during the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after buying an additional 242 shares during the last quarter. Lee Financial Co lifted its holdings in TC Energy by 3.1% in the fourth quarter. Lee Financial Co now owns 8,185 shares of the pipeline company’s stock valued at $381,000 after buying an additional 246 shares during the period. IFP Advisors Inc boosted its stake in TC Energy by 7.0% in the fourth quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock valued at $177,000 after acquiring an additional 249 shares during the last quarter. Finally, Prospera Financial Services Inc raised its position in shares of TC Energy by 4.8% during the 3rd quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock valued at $274,000 after acquiring an additional 262 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

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.