TC Energy Co. to Post Q2 2023 Earnings of $0.97 Per Share, US Capital Advisors Forecasts (TSE:TRP)

TC Energy Co. (TSE:TRP – Get Rating) (NYSE:TRP) – US Capital Advisors decreased their Q2 2023 earnings per share (EPS) estimates for shares of TC Energy in a research report issued to clients and investors on Friday, May 19th. US Capital Advisors analyst J. Carreker now anticipates that the company will earn $0.97 per share for the quarter, down from their prior forecast of $0.98. The consensus estimate for TC Energy’s current full-year earnings is $4.16 per share. US Capital Advisors also issued estimates for TC Energy’s Q4 2023 earnings at $1.11 EPS, FY2023 earnings at $4.33 EPS, Q1 2024 earnings at $1.00 EPS, Q3 2024 earnings at $0.85 EPS, Q4 2024 earnings at $1.00 EPS and FY2025 earnings at $4.00 EPS.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. dropped their price objective on TC Energy from C$63.00 to C$62.00 in a research note on Thursday, March 9th. Raymond James dropped their price target on shares of TC Energy from C$63.00 to C$62.00 in a research report on Friday, February 3rd. TD Securities decreased their price objective on shares of TC Energy from C$71.00 to C$68.00 and set a “buy” rating for the company in a research report on Wednesday, February 15th. UBS Group upped their target price on shares of TC Energy from C$59.00 to C$60.00 in a report on Monday, May 1st. Finally, Morgan Stanley raised their target price on shares of TC Energy from C$60.00 to C$63.00 in a research note on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of C$61.66.

TC Energy Stock Performance

Shares of TSE TRP opened at C$54.36 on Monday. The company has a debt-to-equity ratio of 183.26, a quick ratio of 0.40 and a current ratio of 0.74. The stock has a 50 day moving average price of C$54.52 and a 200 day moving average price of C$56.46. The stock has a market capitalization of C$54.36 billion, a PE ratio of 34.62, a price-to-earnings-growth ratio of 0.77 and a beta of 0.87. TC Energy has a 52 week low of C$50.70 and a 52 week high of C$74.44.

TC Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, June 30th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 6.84%. The ex-dividend date of this dividend is Thursday, June 29th. TC Energy’s dividend payout ratio is 236.94%.

Insiders Place Their Bets

In other TC Energy news, Director Richard Prior acquired 1,300 shares of the business’s stock in a transaction on Wednesday, March 15th. The stock was purchased at an average price of C$36.90 per share, with a total value of C$47,970.00. In related news, Director Hejdi A. Carlsen bought 550 shares of TC Energy stock in a transaction dated Friday, March 10th. The shares were bought at an average cost of C$53.79 per share, with a total value of C$29,584.50. Also, Director Richard Prior purchased 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The stock was bought at an average price of C$36.90 per share, for a total transaction of C$47,970.00. Insiders have bought 2,148 shares of company stock worth $92,828 in the last 90 days. Company insiders own 0.06% of the company’s stock.

TC Energy Company Profile

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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 Storage. The company builds and operates 93,300 km network 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.