TC Energy (TRP) to Release Quarterly Earnings on Friday

Posted by Defense World Staff on Jul 21st, 2023

TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) will announce its earnings results before the market opens on Friday, July 28th. Analysts expect the company to announce earnings of $0.66 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last announced its earnings results on Friday, April 28th. The pipeline company reported $0.89 EPS for the quarter, meeting analysts’ consensus estimates of $0.89. TC Energy had a return on equity of 13.97% and a net margin of 11.35%. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.73 billion. On average, analysts expect TC Energy to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

TC Energy Stock Up 2.1 %

Shares of NYSE:TRP opened at $39.41 on Friday. TC Energy has a 52-week low of $36.79 and a 52-week high of $55.50. The firm has a market capitalization of $40.57 billion, a P/E ratio of 31.53, a P/E/G ratio of 3.12 and a beta of 0.85. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.67 and a current ratio of 0.74. The stock has a 50 day moving average price of $40.15 and a 200-day moving average price of $40.63.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, June 30th will be paid a $0.688 dividend. This represents a $2.75 dividend on an annualized basis and a yield of 6.98%. The ex-dividend date is Thursday, June 29th. TC Energy’s payout ratio is 224.80%.

Institutional Investors Weigh In On TC Energy

Large investors have recently modified their holdings of the business. Norges Bank purchased a new position in shares of TC Energy in the 4th quarter valued at $519,894,000. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of TC Energy by 176.7% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,646,798 shares of the pipeline company’s stock valued at $149,414,000 after purchasing an additional 1,690,298 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of TC Energy by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 33,256,822 shares of the pipeline company’s stock worth $1,876,349,000 after acquiring an additional 993,965 shares in the last quarter. Marshall Wace LLP boosted its position in TC Energy by 2,085.7% during the fourth quarter. Marshall Wace LLP now owns 639,352 shares of the pipeline company’s stock worth $25,485,000 after purchasing an additional 610,101 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in TC Energy in the 1st quarter valued at about $28,532,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. StockNews.com assumed coverage on TC Energy in a research report on Thursday, May 18th. They set a “hold” rating for the company. TheStreet raised shares of TC Energy from a “c” rating to a “b-” rating in a report on Friday, April 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, TC Energy currently has a consensus rating of “Hold” and a consensus target price of $63.06.

TC Energy Company Profile

(Get Free Report)

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 93,700 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.