TC Energy Co. (TSE:TRP) Forecasted to Post FY2024 Earnings of $4.26 Per Share

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Research analysts at Atb Cap Markets upped their FY2024 earnings per share estimates for shares of TC Energy in a research note issued to investors on Tuesday, July 23rd. Atb Cap Markets analyst N. Heywood now forecasts that the company will post earnings of $4.26 per share for the year, up from their prior estimate of $4.23. The consensus estimate for TC Energy’s current full-year earnings is $4.19 per share.

TRP has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their price target on TC Energy from C$58.00 to C$59.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Wells Fargo & Company boosted their price target on TC Energy from C$59.00 to C$64.00 in a report on Tuesday, June 4th. ATB Capital boosted their price target on TC Energy from C$54.00 to C$56.00 in a report on Wednesday. CIBC upped their target price on TC Energy from C$56.00 to C$59.00 in a report on Monday, July 15th. Finally, Jefferies Financial Group upped their target price on TC Energy from C$51.00 to C$52.00 and gave the stock a “hold” rating in a report on Monday, May 6th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$55.69.

TC Energy Stock Up 0.2 %

Shares of TSE:TRP opened at C$57.18 on Thursday. TC Energy has a 1 year low of C$43.70 and a 1 year high of C$57.73. The company has a market cap of C$59.47 billion, a PE ratio of 21.99, a P/E/G ratio of 0.26 and a beta of 0.74. The company has a debt-to-equity ratio of 163.01, a current ratio of 0.94 and a quick ratio of 0.40. The stock’s 50-day moving average is C$53.20 and its 200 day moving average is C$52.69.

TC Energy (TSE:TRP) (NYSE:TRP) last released its earnings results on Friday, May 3rd. The company reported C$1.24 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.14 by C$0.10. TC Energy had a return on equity of 8.37% and a net margin of 17.31%. The company had revenue of C$4.24 billion during the quarter, compared to analyst estimates of C$4.26 billion.

Insider Activity

In other news, Director Kevin B. Engel sold 546 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of C$53.53, for a total value of C$29,227.38. In other news, Director Kevin B. Engel sold 546 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of C$53.53, for a total value of C$29,227.38. Also, Senior Officer Christine R. Johnston sold 1,330 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of C$53.15, for a total value of C$70,689.50. Following the completion of the sale, the insider now owns 466 shares of the company’s stock, valued at approximately C$24,767.90. Insiders have sold 6,876 shares of company stock valued at $299,917 in the last ninety days. 0.04% of the stock is currently owned by company insiders.

TC Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a dividend of $0.96 per share. The ex-dividend date is Friday, June 28th. This represents a $3.84 annualized dividend and a dividend yield of 6.72%. TC Energy’s payout ratio is 147.69%.

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.