TC Energy Co. (TSE:TRP) to Post Q1 2024 Earnings of $1.18 Per Share, Atb Cap Markets Forecasts

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Atb Cap Markets reduced their Q1 2024 earnings per share (EPS) estimates for TC Energy in a report released on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now anticipates that the company will post earnings of $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.

A number of other equities analysts also recently commented on TRP. ATB Capital set a C$54.00 target price on shares of TC Energy and gave the stock a “sector perform” rating in a report on Friday, January 5th. CIBC boosted their target price on shares of TC Energy from C$54.00 to C$55.00 and gave the stock a “neutral” rating in a report on Monday, January 8th. Barclays boosted their target price on shares of TC Energy from C$53.00 to C$55.00 in a report on Monday, January 29th. National Bankshares boosted their target price on shares of TC Energy from C$54.00 to C$58.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Finally, Royal Bank of Canada reduced their target price on shares of TC Energy from C$54.00 to C$49.00 and set an “outperform” rating for the company in a report on Tuesday, February 20th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, TC Energy has a consensus rating of “Hold” and an average target price of C$54.94.

TC Energy Stock Performance

TRP stock opened at C$49.17 on Thursday. 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 business has a 50-day moving average price of C$52.88 and a 200 day moving average price of C$51.55. The company has a market capitalization of C$51.14 billion, a P/E ratio of 17.88, a PEG ratio of 0.26 and a beta of 0.73. TC Energy has a 1-year low of C$43.70 and a 1-year 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 for the quarter, beating the consensus estimate of C$1.08 by C$0.27. The firm had revenue of C$4.24 billion during the quarter, compared to the consensus estimate of C$3.94 billion. TC Energy had a return on equity of 8.39% and a net margin of 18.34%.

Insider Activity

In other TC Energy news, Senior Officer Dawn Elizabeth De Lima bought 2,600 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was bought at an average cost of C$55.04 per share, for a total transaction of C$143,104.00. In related news, Director Kevin B. Engel sold 2,514 shares of the stock in a transaction on 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 sale, the director now directly owns -29 shares of the company’s stock, valued at C($1,575.66). Also, Senior Officer Dawn Elizabeth De Lima purchased 2,600 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were purchased at an average price of C$55.04 per share, for a total transaction of C$143,104.00. Insiders have acquired 4,526 shares of company stock valued at $248,609 in the last ninety days. Insiders own 0.04% of the company’s stock.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 7.81%. This is a boost from TC Energy’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Wednesday, March 27th. TC Energy’s payout ratio is presently 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.