TC Energy, a leading North American energy infrastructure company based in Calgary, Alberta, announced its quarterly earnings on Friday, reporting an earnings per share (EPS) of $0.70. This figure surpassed analysts’ expectations, which had predicted an EPS of $0.65, according to Zacks. However, the company’s revenue for the quarter was $2.20 billion, falling short of the consensus estimate of $2.94 billion.
The company’s return on equity stood at 10.61%, with a net margin of 23.86%. In the same quarter last year, TC Energy had reported an EPS of $1.05, indicating a significant year-over-year decline.
Stock Performance and Market Activity
During trading on Friday, shares of TC Energy rose by $2.12, reaching a price of $63.52. The trading volume was 3,386,004 shares, which is notably higher than the average volume of 2,481,877 shares. TC Energy currently has a market capitalization of $66.13 billion, a price-to-earnings (P/E) ratio of 27.38, and a beta of 0.73.
The stock has experienced a twelve-month low of $43.59 and a high of $63.94. The company’s current ratio is 0.63, the quick ratio is 0.56, and the debt-to-equity ratio is 1.60. Additionally, TC Energy’s 50-day moving average is $56.15, while the 200-day moving average stands at $53.49.
Dividend Increase and Institutional Interest
In a positive development, TC Energy announced an increase in its dividend, reflecting confidence in its ongoing operational performance. Institutional investors have shown a keen interest in the company recently. Notably, GQG Partners LLC boosted its stake in TC Energy by an impressive 586.5% during the fourth quarter, now holding 16,154,469 shares valued at approximately $890.71 million after acquiring an additional 13,801,371 shares.
Other significant moves include Morgan Stanley, which raised its holdings by 10.7% during the same quarter. The firm now owns 5,043,528 shares valued at $277.45 million after purchasing an additional 487,178 shares. Meanwhile, Scotia Capital Inc. increased its position by 3.7%, now holding 9,155,004 shares worth $493.48 million.
Currently, institutional investors control approximately 83.13% of TC Energy’s stock, indicating strong confidence in the company’s future prospects.
Analyst Ratings and Future Outlook
Several equities analysts have recently provided insights on TC Energy’s stock performance. Citigroup has maintained a “neutral” rating, while Wall Street Zen upgraded the stock from “sell” to “hold.” Weiss Ratings reaffirmed a “buy (B-)” rating, and Morgan Stanley reiterated an “overweight” rating. In addition, Scotiabank confirmed an “outperform” rating.
According to MarketBeat.com, the stock has received an average rating of “buy” from analysts, with an average price target set at $84.00. This optimistic outlook reflects the analysts’ confidence in TC Energy’s operational strength and market position.
Overall, TC Energy’s latest earnings report and strategic moves indicate a company focused on growth and resilience in the energy infrastructure sector. With a solid commitment to increasing shareholder value through dividends and attracting institutional investments, TC Energy appears well-positioned for future success in a competitive landscape.
