Q2 2024 Earnings Estimate for TC Energy Co. (TSE:TRP) Issued By Zacks Research

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Zacks Research cut their Q2 2024 earnings per share (EPS) estimates for TC Energy in a report issued on Wednesday, April 24th. Zacks Research analyst T. Saha now expects that the company will post earnings of $1.59 per share for the quarter, down from their previous estimate of $1.60. The consensus estimate for TC Energy’s current full-year earnings is $4.18 per share. Zacks Research also issued estimates for TC Energy’s Q4 2024 earnings at $1.01 EPS, Q1 2025 earnings at $1.17 EPS, Q3 2025 earnings at $0.46 EPS, Q4 2025 earnings at $0.95 EPS, FY2025 earnings at $4.20 EPS, Q1 2026 earnings at $1.18 EPS and FY2026 earnings at $4.42 EPS.

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

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

TC Energy Trading Down 0.1 %

Shares of TSE TRP opened at C$49.30 on Thursday. The stock’s 50 day moving average price is C$52.75 and its two-hundred day moving average price is C$51.56. TC Energy has a 52-week low of C$43.70 and a 52-week high of C$56.98. The stock has a market capitalization of C$51.27 billion, a P/E ratio of 17.93, a PEG ratio of 0.26 and a beta of 0.73. The company has a quick ratio of 0.40, a current ratio of 0.96 and a debt-to-equity ratio of 163.32.

Insider Buying and Selling

In related news, Director Kevin B. Engel sold 2,514 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of C$54.33, for a total value of C$136,593.16. Following the completion of the transaction, the director now directly owns -29 shares of the company’s stock, valued at approximately C($1,575.66). In related news, Director Kevin B. Engel sold 2,514 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of C$54.33, for a total value of C$136,593.16. Following the completion of the transaction, the director now directly owns -29 shares of the company’s stock, valued at approximately C($1,575.66). Also, Senior Officer Dawn Elizabeth De Lima purchased 2,600 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were purchased at an average cost of C$55.04 per share, with a total value of C$143,104.00. Insiders acquired 4,526 shares of company stock valued at $248,609 in the last three months. 0.04% of the stock is currently owned by corporate insiders.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 7.79%. This is a positive change from TC Energy’s previous quarterly dividend of $0.93. The ex-dividend date is Wednesday, March 27th. TC Energy’s dividend payout ratio is 139.64%.

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.