TC Energy Co. (TSE:TRP) Forecasted to Post Q2 2024 Earnings of $0.93 Per Share

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Research analysts at US Capital Advisors raised their Q2 2024 EPS estimates for TC Energy in a research note issued on Monday, April 29th. US Capital Advisors analyst J. Carreker now anticipates that the company will post earnings per share of $0.93 for the quarter, up from their previous estimate of $0.91. The consensus estimate for TC Energy’s current full-year earnings is $4.18 per share. US Capital Advisors also issued estimates for TC Energy’s Q3 2024 earnings at $0.95 EPS, Q4 2024 earnings at $1.04 EPS, FY2024 earnings at $3.99 EPS and FY2025 earnings at $3.97 EPS.

Several other research analysts have also issued reports on the stock. National Bankshares lifted their price target on shares of TC Energy from C$54.00 to C$58.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Royal Bank of Canada lowered their price objective on shares of TC Energy from C$54.00 to C$49.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 20th. 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. CIBC lifted their target price on shares of TC Energy from C$54.00 to C$55.00 and gave the company a “neutral” rating in a research note on Monday, January 8th. Finally, ATB Capital set a C$54.00 target price on shares of TC Energy and gave the company a “sector perform” rating in a research note on Friday, January 5th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, TC Energy presently has a consensus rating of “Hold” and an average price target of C$54.44.

TC Energy Trading Up 3.3 %

TC Energy stock opened at C$51.44 on Thursday. The firm has a 50 day simple moving average of C$52.40 and a 200-day simple moving average of C$51.61. The company has a debt-to-equity ratio of 163.32, a current ratio of 0.96 and a quick ratio of 0.40. The stock has a market capitalization of C$53.50 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 0.26 and a beta of 0.73. TC Energy has a 12-month low of C$43.70 and a 12-month high of C$56.75.

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 (EPS) for the quarter, beating the consensus estimate of C$1.08 by C$0.27. The business had revenue of C$4.24 billion during the quarter, compared to analysts’ expectations of C$3.94 billion. TC Energy had a net margin of 18.34% and a return on equity of 8.39%.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.96 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.84 annualized dividend and a dividend yield of 7.47%. TC Energy’s payout ratio is presently 139.64%.

Insider Transactions at TC Energy

In related news, Senior Officer Dawn Elizabeth De Lima acquired 750 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were bought at an average price of C$54.48 per share, for a total transaction of C$40,860.00. In related news, Senior Officer Dawn Elizabeth De Lima acquired 750 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were bought at an average price of C$54.48 per share, for a total transaction of C$40,860.00. Also, Director Alexis A.J. Hudy acquired 875 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were bought at an average price of C$54.97 per share, for a total transaction of C$48,098.75. Following the acquisition, the director now owns 875 shares in the company, valued at approximately C$48,098.75. In the last 90 days, insiders have purchased 4,526 shares of company stock worth $248,609. 0.04% of the stock is currently owned by company insiders.

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.