Scotiabank Has Negative Outlook of TC Energy FY2027 Earnings

TC Energy Corporation (NYSE:TRP) (TSE:TRP) – Equities researchers at Scotiabank decreased their FY2027 earnings estimates for TC Energy in a research report issued to clients and investors on Tuesday, July 7th. Scotiabank analyst R. Hope now expects that the pipeline company will post earnings per share of $2.81 for the year, down from their previous estimate of $3.00. Scotiabank currently has a “Outperform” rating on the stock. The consensus estimate for TC Energy’s current full-year earnings is $2.73 per share.

A number of other brokerages also recently weighed in on TRP. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of TC Energy in a report on Tuesday, May 26th. TD Securities reaffirmed a “hold” rating on shares of TC Energy in a report on Monday, May 4th. Weiss Ratings lowered shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 4th. BMO Capital Markets reissued an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. Finally, The Goldman Sachs Group upgraded shares of TC Energy from a “sell” rating to a “neutral” rating and raised their price target for the stock from $53.00 to $62.00 in a research report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.50.

TC Energy Trading Up 0.2%

NYSE:TRP opened at $68.97 on Thursday. The company has a market cap of $71.86 billion, a PE ratio of 29.93 and a beta of 0.66. The business’s 50 day moving average is $67.87 and its two-hundred day moving average is $62.85. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. TC Energy has a 52 week low of $46.29 and a 52 week high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the company earned $0.95 earnings per share.

TC Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Tuesday, June 30th. TC Energy’s dividend payout ratio is presently 107.39%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PensionDanmark Pensionsforsikringsaktieselskab grew its stake in TC Energy by 9.0% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 102,988 shares of the pipeline company’s stock worth $6,818,000 after buying an additional 8,496 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in TC Energy in the first quarter worth $357,000. Groupe la Francaise lifted its stake in TC Energy by 2.1% in the first quarter. Groupe la Francaise now owns 7,352 shares of the pipeline company’s stock valued at $459,000 after buying an additional 154 shares during the last quarter. Western Wealth Management LLC bought a new stake in TC Energy in the first quarter valued at $55,000. Finally, Royal Fund Management LLC boosted its holdings in shares of TC Energy by 2.6% during the first quarter. Royal Fund Management LLC now owns 24,984 shares of the pipeline company’s stock valued at $1,564,000 after acquiring an additional 636 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

About TC Energy

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.