TC Energy Co. to Post Q2 2024 Earnings of $1.59 Per Share, Zacks Research Forecasts (TSE:TRP)

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Research analysts at Zacks Research lowered their Q2 2024 earnings per share (EPS) estimates for TC Energy in a research note issued to investors on Wednesday, April 24th. Zacks Research analyst T. Saha now expects that the company will earn $1.59 per share for the quarter, down from their prior forecast of $1.60. The consensus estimate for TC Energy’s current full-year earnings is $4.18 per share. Zacks Research also issued estimates for TC Energy’s Q4 2024 earnings at $1.01 EPS, Q1 2025 earnings at $1.17 EPS, Q3 2025 earnings at $0.46 EPS, Q4 2025 earnings at $0.95 EPS, FY2025 earnings at $4.20 EPS, Q1 2026 earnings at $1.18 EPS and FY2026 earnings at $4.42 EPS.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings results on Friday, February 16th. The company reported C$1.35 EPS for the quarter, beating analysts’ consensus estimates of C$1.08 by C$0.27. TC Energy had a return on equity of 8.39% and a net margin of 18.34%. The company had revenue of C$4.24 billion during the quarter, compared to analyst estimates of C$3.94 billion.

TRP has been the subject of a number of other reports. Jefferies Financial Group dropped their price target on TC Energy from C$57.00 to C$51.00 in a research note on Wednesday, April 17th. Scotiabank raised their price objective on TC Energy from C$55.00 to C$58.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. ATB Capital set a C$54.00 price objective on TC Energy and gave the company a “sector perform” rating in a research note on Friday, January 5th. TD Securities raised their price objective on TC Energy from C$50.00 to C$51.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Finally, CIBC raised their price objective on TC Energy from C$54.00 to C$55.00 and gave the company a “neutral” rating in a research note on Monday, January 8th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$54.44.

TC Energy Price Performance

Shares of TC Energy stock opened at C$49.33 on Thursday. The stock has a 50 day moving average of C$52.83 and a 200 day moving average of C$51.53. TC Energy has a 12 month low of C$43.70 and a 12 month high of C$56.98. The firm has a market cap of C$51.30 billion, a PE ratio of 17.94, a PEG ratio of 0.26 and a beta of 0.73. The company has a current ratio of 0.96, a quick ratio of 0.40 and a debt-to-equity ratio of 163.32.

Insiders Place Their Bets

In other news, Senior Officer Dawn Elizabeth De Lima acquired 750 shares of TC Energy stock in a transaction on Wednesday, March 20th. The shares were bought at an average cost of C$54.48 per share, for a total transaction of C$40,860.00. In other news, Senior Officer Dawn Elizabeth De Lima acquired 750 shares of TC Energy stock in a transaction on Wednesday, March 20th. The shares were bought at an average cost of C$54.48 per share, for a total transaction of C$40,860.00. Also, Director Kevin B. Engel sold 2,514 shares of the firm’s stock in a transaction 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 transaction, the director now owns -29 shares in the company, valued at C($1,575.66). Insiders have bought 4,526 shares of company stock worth $248,609 in the last ninety days. 0.04% of the stock is owned by company insiders.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.96 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.93. This represents a $3.84 annualized dividend and a yield of 7.78%. The ex-dividend date of this dividend is Wednesday, March 27th. TC Energy’s dividend payout ratio (DPR) 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.