Brokerages Expect TC Energy Co. (NYSE:TRP) Will Post Earnings of $0.80 Per Share

Analysts expect that TC Energy Co. (NYSE:TRP) (TSE:TRP) will post earnings of $0.80 per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for TC Energy’s earnings, with the lowest EPS estimate coming in at $0.75 and the highest estimate coming in at $0.89. TC Energy reported earnings of $0.67 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 19.4%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Thursday, July 29th.

On average, analysts expect that TC Energy will report full-year earnings of $3.43 per share for the current financial year, with EPS estimates ranging from $3.35 to $3.57. For the next fiscal year, analysts expect that the company will post earnings of $3.55 per share, with EPS estimates ranging from $3.42 to $3.69. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow TC Energy.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, May 7th. The pipeline company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.02. TC Energy had a return on equity of 13.97% and a net margin of 17.91%. The firm had revenue of $2.59 billion during the quarter.

A number of research analysts have commented on TRP shares. Wells Fargo & Company increased their target price on TC Energy from $66.00 to $68.00 and gave the stock an “equal weight” rating in a report on Thursday, May 13th. Morgan Stanley downgraded TC Energy from an “overweight” rating to an “equal weight” rating and set a $76.00 target price on the stock. in a report on Tuesday. Finally, CIBC increased their target price on TC Energy from C$70.00 to C$74.00 and gave the stock an “outperform” rating in a report on Friday, June 18th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $68.08.

NYSE TRP traded up $0.11 during mid-day trading on Thursday, reaching $48.58. 85,054 shares of the company’s stock traded hands, compared to its average volume of 1,363,337. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.76. The firm’s fifty day simple moving average is $50.75. TC Energy has a 1-year low of $38.80 and a 1-year high of $53.65. The stock has a market capitalization of $47.57 billion, a P/E ratio of 27.35, a price-to-earnings-growth ratio of 2.30 and a beta of 0.79.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 30th. Investors of record on Wednesday, June 30th will be issued a $0.7137 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.69. The ex-dividend date is Tuesday, June 29th. This represents a $2.85 annualized dividend and a dividend yield of 5.88%. TC Energy’s dividend payout ratio (DPR) is 39.49%.

Several hedge funds and other institutional investors have recently made changes to their positions in TRP. Bank of Nova Scotia raised its stake in TC Energy by 498.7% during the 1st quarter. Bank of Nova Scotia now owns 13,182,078 shares of the pipeline company’s stock valued at $603,329,000 after acquiring an additional 10,980,186 shares in the last quarter. Norges Bank bought a new stake in TC Energy during the 4th quarter valued at $319,053,000. Mufg Securities Canada LTD. raised its stake in TC Energy by 1,163.3% during the 1st quarter. Mufg Securities Canada LTD. now owns 6,320,564 shares of the pipeline company’s stock valued at $289,530,000 after acquiring an additional 5,820,248 shares in the last quarter. FIL Ltd raised its stake in TC Energy by 26.9% during the 1st quarter. FIL Ltd now owns 19,378,739 shares of the pipeline company’s stock valued at $888,365,000 after acquiring an additional 4,108,971 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. raised its stake in TC Energy by 577.4% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 4,335,112 shares of the pipeline company’s stock valued at $198,331,000 after acquiring an additional 3,695,107 shares in the last quarter. 69.47% 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 Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Power and Storage segments. The company builds and operates 93,400 km network 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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Earnings History and Estimates for TC Energy (NYSE:TRP)

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