US Capital Advisors Expects Reduced Earnings for TC Energy

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Analysts at US Capital Advisors lowered their FY2024 earnings per share (EPS) estimates for shares of TC Energy in a note issued to investors on Monday, February 3rd. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings of $2.92 per share for the year, down from their prior estimate of $3.16. US Capital Advisors has a “Moderate Buy” rating on the stock. The consensus estimate for TC Energy’s current full-year earnings is $2.95 per share.

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

TRP has been the subject of several other research reports. StockNews.com assumed coverage on shares of TC Energy in a research report on Wednesday, December 4th. They set a “hold” rating for the company. The Goldman Sachs Group upped their price target on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. BMO Capital Markets upped their price target on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. TD Securities assumed coverage on shares of TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $56.00.

TC Energy Price Performance

NYSE TRP opened at $47.09 on Thursday. TC Energy has a 52 week low of $31.83 and a 52 week high of $50.37. The firm has a market capitalization of $48.93 billion, a P/E ratio of 13.05, a PEG ratio of 4.31 and a beta of 0.81. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The company has a 50-day moving average price of $46.88 and a 200-day moving average price of $46.29.

Institutional Investors Weigh In On TC Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRP. Fortitude Family Office LLC bought a new position in shares of TC Energy during the 3rd quarter valued at approximately $28,000. Blue Trust Inc. raised its holdings in TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after buying an additional 267 shares during the period. SBI Securities Co. Ltd. purchased a new stake in TC Energy during the 4th quarter valued at $31,000. Versant Capital Management Inc purchased a new stake in TC Energy during the 4th quarter valued at $33,000. Finally, Point72 DIFC Ltd purchased a new stake in TC Energy during the 3rd quarter valued at $39,000. 83.13% of the stock is owned by hedge funds and other 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.