What is Scotiabank’s Estimate for TC Energy FY2024 Earnings?

TC Energy Co. (NYSE:TRP) (TSE:TRP) – Equities research analysts at Scotiabank decreased their FY2024 EPS estimates for shares of TC Energy in a research note issued on Wednesday, January 8th. Scotiabank analyst R. Hope now forecasts that the pipeline company will post earnings per share of $2.95 for the year, down from their prior forecast of $3.23. The consensus estimate for TC Energy’s current full-year earnings is $3.00 per share. Scotiabank also issued estimates for TC Energy’s FY2025 earnings at $2.59 EPS.

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

Several other equities analysts have also recently commented on the stock. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Veritas raised TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Finally, BMO Capital Markets increased their price target on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. Two 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $55.67.

TC Energy Stock Up 0.8 %

Shares of TC Energy stock opened at $46.33 on Monday. TC Energy has a 12-month low of $31.83 and a 12-month high of $50.37. The stock’s fifty day moving average is $47.71 and its 200-day moving average is $45.48. 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 firm has a market capitalization of $48.13 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 3.88 and a beta of 0.82.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board grew its stake in shares of TC Energy by 107.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after purchasing an additional 10,065,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of TC Energy by 156.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock valued at $321,778,000 after purchasing an additional 4,126,801 shares in the last quarter. Merewether Investment Management LP bought a new stake in shares of TC Energy in the 2nd quarter worth about $112,618,000. Marshall Wace LLP increased its position in shares of TC Energy by 841.1% during the 2nd quarter. Marshall Wace LLP now owns 2,040,863 shares of the pipeline company’s stock worth $77,349,000 after purchasing an additional 1,824,008 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in TC Energy during the 3rd quarter valued at about $73,162,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.822 per share. The ex-dividend date is Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a yield of 7.10%. TC Energy’s dividend payout ratio (DPR) is 63.16%.

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.