TC Energy (TRP) Set to Announce Quarterly Earnings on Friday

TC Energy (TSE:TRP) (NYSE:TRP) is scheduled to be issuing its quarterly earnings data before the market opens on Friday, May 3rd. Analysts expect the company to announce earnings of C$1.14 per share for the quarter.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings data on Friday, February 16th. The company reported C$1.35 earnings per share for the quarter, topping the consensus estimate of C$1.08 by C$0.27. The company had revenue of C$4.24 billion during the quarter, compared to analyst estimates of C$3.94 billion. TC Energy had a net margin of 18.34% and a return on equity of 8.39%.

TC Energy Stock Performance

TSE TRP opened at C$49.33 on Friday. The firm has a market cap of C$51.30 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 0.26 and a beta of 0.73. The company has a 50 day moving average of C$52.83 and a 200-day moving average of C$51.53. The company has a current ratio of 0.96, a quick ratio of 0.40 and a debt-to-equity ratio of 163.32. TC Energy has a 1-year low of C$43.70 and a 1-year high of C$56.98.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.96 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.93. This represents a $3.84 annualized dividend and a dividend yield of 7.78%. The ex-dividend date is Wednesday, March 27th. TC Energy’s dividend payout ratio is 139.64%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TRP shares. JPMorgan Chase & Co. increased their target price on shares of TC Energy from C$58.00 to C$59.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Scotiabank increased their target price on shares of TC Energy from C$55.00 to C$58.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. TD Securities increased their target price on shares of TC Energy from C$50.00 to C$51.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. Jefferies Financial Group cut their target price on shares of TC Energy from C$57.00 to C$51.00 in a report on Wednesday, April 17th. Finally, Barclays increased their target price on shares of TC Energy from C$53.00 to C$55.00 in a report on Monday, January 29th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$54.44.

Insider Buying and Selling

In related news, Director Kevin B. Engel sold 2,514 shares of TC Energy stock in a transaction dated Friday, March 15th. The shares were sold at an average price of C$54.33, for a total transaction of C$136,593.16. Following the completion of the sale, the director now owns -29 shares of the company’s stock, valued at approximately C($1,575.66). In other TC Energy news, Director Kevin B. Engel sold 2,514 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of C$54.33, for a total value of C$136,593.16. Following the completion of the sale, the director now owns -29 shares of the company’s stock, valued at approximately C($1,575.66). Also, Senior Officer Dawn Elizabeth De Lima acquired 750 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was acquired at an average cost of C$54.48 per share, with a total value of C$40,860.00. In the last 90 days, insiders purchased 4,526 shares of company stock valued at $248,609. Company insiders own 0.04% of the company’s stock.

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.