FY2024 EPS Estimates for TC Energy Lifted by Analyst

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Equities researchers at US Capital Advisors upped their FY2024 EPS estimates for shares of TC Energy in a note issued to investors on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now expects that the company will post earnings per share of $4.39 for the year, up from their prior forecast of $4.04. The consensus estimate for TC Energy’s current full-year earnings is $3.55 per share. US Capital Advisors also issued estimates for TC Energy’s Q4 2024 earnings at $0.90 EPS, Q1 2025 earnings at $0.94 EPS, Q2 2025 earnings at $0.75 EPS, Q3 2025 earnings at $0.87 EPS, Q4 2025 earnings at $0.90 EPS, FY2025 earnings at $3.47 EPS and FY2026 earnings at $3.34 EPS.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.97 by C$0.06. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The firm had revenue of C$4.08 billion for the quarter, compared to analysts’ expectations of C$3.90 billion.

A number of other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of TC Energy from C$70.00 to C$79.00 in a research note on Monday, November 18th. Morgan Joseph raised shares of TC Energy from an “underweight” rating to an “overweight” rating and lifted their price target for the company from C$62.00 to C$78.00 in a research note on Friday, October 25th. ATB Capital lifted their target price on shares of TC Energy from C$64.00 to C$65.00 in a research note on Friday, November 8th. Royal Bank of Canada lifted their target price on shares of TC Energy from C$67.00 to C$71.00 in a research note on Friday, November 8th. Finally, Raymond James raised shares of TC Energy to a “hold” rating in a research note on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$69.54.

TC Energy Price Performance

TC Energy stock opened at C$67.93 on Thursday. The company’s fifty day moving average price is C$65.32 and its 200 day moving average price is C$59.39. TC Energy has a 1 year low of C$43.83 and a 1 year high of C$70.32. The stock has a market capitalization of C$70.65 billion, a P/E ratio of 20.52, a P/E/G ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76.

Insider Activity at TC Energy

In other news, Senior Officer Dawn Elizabeth De Lima bought 545 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was bought at an average cost of C$63.06 per share, with a total value of C$34,367.70. Also, Senior Officer Patrick M. Keys sold 17,127 shares of TC Energy stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of C$62.71, for a total value of C$1,074,049.58. In the last ninety days, insiders have sold 207,976 shares of company stock worth $13,899,631. Company insiders own 0.03% of the company’s stock.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.113 per share. This represents a $4.45 annualized dividend and a dividend yield of 6.55%. The ex-dividend date is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.96. TC Energy’s payout ratio is currently 116.01%.

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.