TC Energy Co. (TSE:TRP) Forecasted to Post Q1 2024 Earnings of $1.18 Per Share

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Analysts at Atb Cap Markets decreased their Q1 2024 EPS estimates for TC Energy in a research note issued to investors on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now anticipates that the company will earn $1.18 per share for the quarter, down from their previous forecast of $1.21. The consensus estimate for TC Energy’s current full-year earnings is $4.18 per share. Atb Cap Markets also issued estimates for TC Energy’s FY2024 earnings at $4.14 EPS.

Other research analysts also recently issued reports about the stock. Jefferies Financial Group decreased their target price on shares of TC Energy from C$57.00 to C$51.00 in a research note on Wednesday, April 17th. National Bankshares upped their target price on shares of TC Energy from C$54.00 to C$58.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. TD Securities increased their price objective on shares of 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. Stifel Nicolaus set a C$61.00 price objective on shares of TC Energy and gave the company a “buy” rating in a research note on Thursday, January 18th. Finally, ATB Capital set a C$54.00 price objective on shares of TC Energy and gave the company a “sector perform” rating in a research note on Friday, January 5th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of C$54.44.

TC Energy Price Performance

Shares of TRP stock opened at C$49.30 on Thursday. The company has a market capitalization of C$51.27 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 0.26 and a beta of 0.73. The firm has a fifty day simple moving average of C$52.75 and a 200-day simple moving average of C$51.56. 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 twelve month low of C$43.70 and a twelve month high of C$56.98.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings data on Friday, February 16th. The company reported C$1.35 earnings per share (EPS) 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%.

Insider Transactions at TC Energy

In other TC Energy news, Senior Officer Dawn Elizabeth De Lima purchased 2,600 shares of TC Energy stock in a transaction dated Monday, March 25th. The shares were bought at an average cost of C$55.04 per share, for a total transaction of C$143,104.00. In other TC Energy news, Director Kevin B. Engel sold 2,514 shares of the firm’s 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 transaction, 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 bought 2,600 shares of the stock in a transaction on Monday, March 25th. The shares were bought at an average cost of C$55.04 per share, for a total transaction of C$143,104.00. In the last three months, insiders have acquired 4,526 shares of company stock worth $248,609. 0.04% of the stock is currently owned by insiders.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a $0.96 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.93. This represents a $3.84 dividend on an annualized basis and a dividend yield of 7.79%. The ex-dividend date of this dividend is Wednesday, March 27th. TC Energy’s dividend payout ratio (DPR) is presently 139.64%.

TC Energy Company Profile

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.