TC Energy Co. to Post Q2 2024 Earnings of $0.93 Per Share, US Capital Advisors Forecasts (TSE:TRP)

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Research analysts at US Capital Advisors boosted their Q2 2024 earnings per share estimates for shares of TC Energy in a report issued on Monday, April 29th. US Capital Advisors analyst J. Carreker now forecasts that the company will post earnings per share of $0.93 for the quarter, up from their previous forecast 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.

TC Energy (TSE:TRP) (NYSE:TRP) last announced 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 business had revenue of C$4.24 billion during the quarter, compared to analyst estimates of C$3.94 billion. TC Energy had a return on equity of 8.39% and a net margin of 18.34%.

A number of other research firms have also commented on TRP. TD Securities raised their price target on TC Energy from C$50.00 to C$51.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. lifted their target price 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. Scotiabank upped their price target on TC Energy from C$55.00 to C$58.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Barclays raised their price objective on shares of TC Energy from C$53.00 to C$55.00 in a research report on Monday, January 29th. Finally, 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. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$54.44.

TC Energy Price Performance

TSE TRP opened at C$49.15 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.96 and a debt-to-equity ratio of 163.32. The company has a market cap of C$51.12 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 0.26 and a beta of 0.73. TC Energy has a 52 week low of C$43.70 and a 52 week high of C$56.75. The firm’s 50-day simple moving average is C$52.48 and its two-hundred day simple moving average is C$51.62.

Insider Activity

In other news, Senior Officer Dawn Elizabeth De Lima purchased 2,600 shares of the company’s stock in a transaction on Monday, March 25th. The stock was acquired at an average price of C$55.04 per share, with a total value of C$143,104.00. In other TC Energy news, Senior Officer Dawn Elizabeth De Lima purchased 2,600 shares of the stock in a transaction on Monday, March 25th. The stock was acquired at an average price of C$55.04 per share, with a total value of C$143,104.00. Also, Director Kevin B. Engel sold 2,514 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of C$54.33, for a total value of C$136,593.16. Following the completion of the sale, the director now owns -29 shares of the company’s stock, valued at approximately C($1,575.66). Over the last 90 days, insiders purchased 4,526 shares of company stock valued at $248,609. 0.04% of the stock is currently owned by company insiders.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were given a $0.96 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.84 annualized dividend and a yield of 7.81%. This is an increase from TC Energy’s previous quarterly dividend of $0.93. 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.