National Bank Financial Comments on TC Energy Co.’s Q1 2023 Earnings (NYSE:TRP)

Posted by Defense World Staff on Apr 27th, 2023

TC Energy Co. (NYSE:TRP – Get Rating) (TSE:TRP) – Equities researchers at National Bank Financial issued their Q1 2023 earnings per share estimates for shares of TC Energy in a report released on Monday, April 24th. National Bank Financial analyst P. Kenny forecasts that the pipeline company will post earnings of $0.87 per share for the quarter. The consensus estimate for TC Energy’s current full-year earnings is $3.15 per share.

TC Energy (NYSE:TRP – Get Rating) (TSE:TRP) last released its quarterly earnings results on Tuesday, February 14th. The pipeline company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.02). TC Energy had a net margin of 5.57% and a return on equity of 13.92%. The company had revenue of $2.98 billion for the quarter.

TRP has been the topic of several other research reports. TD Securities dropped their price objective on TC Energy from C$71.00 to C$68.00 in a research note on Wednesday, February 15th. CIBC raised TC Energy from a “neutral” rating to a “sector outperform” rating in a research report on Wednesday, February 1st. Royal Bank of Canada lowered their price objective on TC Energy from C$73.00 to C$65.00 in a research report on Thursday, February 2nd. Scotiabank lowered their price objective on TC Energy from C$67.00 to C$66.00 in a research report on Thursday, February 2nd. Finally, StockNews.com started coverage on TC Energy in a research report on Thursday, March 16th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $63.06.

TC Energy Trading Down 1.0 %

Shares of TRP stock opened at $40.27 on Wednesday. TC Energy has a 1 year low of $36.79 and a 1 year high of $59.38. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.43 and a quick ratio of 0.38. The stock’s 50 day simple moving average is $40.22 and its two-hundred day simple moving average is $41.98. The company has a market cap of $41.19 billion, a PE ratio of 69.50, a price-to-earnings-growth ratio of 3.22 and a beta of 0.84.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, March 31st will be paid a $0.699 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.66. The ex-dividend date is Thursday, March 30th. This represents a $2.80 dividend on an annualized basis and a yield of 6.94%. TC Energy’s dividend payout ratio (DPR) is 472.41%.

Hedge Funds Weigh In On TC Energy

A number of institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP acquired a new stake in shares of TC Energy during the 3rd quarter valued at about $393,000. Envestnet Asset Management Inc. boosted its holdings in TC Energy by 6.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 805,598 shares of the pipeline company’s stock worth $32,492,000 after buying an additional 51,142 shares during the last quarter. Verdence Capital Advisors LLC boosted its holdings in TC Energy by 6.0% in the 3rd quarter. Verdence Capital Advisors LLC now owns 11,892 shares of the pipeline company’s stock worth $479,000 after buying an additional 668 shares during the last quarter. Keudell Morrison Wealth Management boosted its holdings in TC Energy by 8.7% in the 4th quarter. Keudell Morrison Wealth Management now owns 8,128 shares of the pipeline company’s stock worth $324,000 after buying an additional 652 shares during the last quarter. Finally, Stephens Inc. AR boosted its holdings in TC Energy by 16.3% in the 4th quarter. Stephens Inc. AR now owns 17,805 shares of the pipeline company’s stock worth $710,000 after buying an additional 2,497 shares during the last quarter. Hedge funds and other institutional investors own 71.86% of the company’s stock.

TC Energy Company Profile

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TC Energy Corporation engages in the provision of energy infrastructure services. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, Power and Energy Solutions, and Corporate. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines.