FY2024 EPS Estimates for TC Energy Boosted by Zacks Research

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Investment analysts at Zacks Research upped their FY2024 earnings per share estimates for TC Energy in a note issued to investors on Wednesday, February 5th. Zacks Research analyst T. Saha now anticipates 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.

A number of other brokerages have also commented on TRP. BMO Capital Markets boosted their price objective on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. TD Securities started coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Finally, The Goldman Sachs Group increased their price target on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, TC Energy presently has a consensus rating of “Hold” and an average target price of $56.00.

TC Energy Price Performance

TRP stock opened at $46.98 on Friday. The stock has a 50-day moving average price of $46.85 and a two-hundred day moving average price of $46.29. TC Energy has a 1 year low of $31.83 and a 1 year high of $50.37. The stock has a market cap of $48.81 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 4.31 and a beta of 0.81. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78.

TC Energy (NYSE:TRP) (TSE:TRP) last announced 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. 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 for the quarter, compared to analyst estimates of $2.83 billion.

Hedge Funds Weigh In On TC Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Addenda Capital Inc. boosted its holdings in shares of TC Energy by 4.4% during the 4th quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock worth $48,135,000 after buying an additional 43,639 shares during the period. Captrust Financial Advisors lifted its position in 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 acquiring an additional 242 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in shares of TC Energy by 44.8% during the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock worth $1,115,000 after acquiring an additional 7,412 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of TC Energy in the third quarter valued at approximately $3,771,000. Finally, Harvest Portfolios Group Inc. increased its stake in shares of TC Energy by 107.7% during the third quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock worth $10,743,000 after purchasing an additional 117,176 shares during the period. 83.13% of the stock is currently 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.