Brokers Issue Forecasts for TC Energy Co.’s Q1 2024 Earnings (TSE:TRP)

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Atb Cap Markets decreased their Q1 2024 earnings per share (EPS) estimates for shares of TC Energy in a research report issued to clients and investors on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now anticipates that the company will earn $1.18 per share for the quarter, down from their prior 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.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings results on Friday, February 16th. The company reported C$1.35 earnings per share for the quarter, topping 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 firm had revenue of C$4.24 billion during the quarter, compared to the consensus estimate of C$3.94 billion.

A number of other equities research analysts have also recently weighed in on TRP. Scotiabank increased their price target 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. Barclays increased their price target on TC Energy from C$53.00 to C$55.00 in a research note on Monday, January 29th. JPMorgan Chase & Co. increased their price target on TC Energy from C$58.00 to C$59.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. CIBC increased their price target 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. Finally, Royal Bank of Canada lowered their price objective on TC Energy from C$54.00 to C$49.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 20th. Seven investment 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, TC Energy has an average rating of “Hold” and a consensus target price of C$54.44.

TC Energy Trading Down 0.1 %

TSE TRP opened at C$49.30 on Thursday. The company has a market cap of C$51.27 billion, a PE ratio of 17.93, 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. TC Energy has a 12 month low of C$43.70 and a 12 month high of C$56.98. The stock has a 50 day moving average of C$52.75 and a 200-day moving average of C$51.56.

Insider Buying and Selling

In related news, Director Kevin B. Engel sold 2,514 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns -29 shares of the company’s stock, valued at C($1,575.66). In other TC Energy news, Director Kevin B. Engel sold 2,514 shares of TC Energy 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 directly owns -29 shares in the company, valued at C($1,575.66). Also, Director Alexis A.J. Hudy bought 875 shares of the stock in a transaction on Monday, March 25th. The stock was acquired at an average price of C$54.97 per share, with a total value of C$48,098.75. Following the completion of the acquisition, the director now owns 875 shares of the company’s stock, valued at approximately C$48,098.75. Over the last quarter, insiders have purchased 4,526 shares of company stock worth $248,609. Company insiders own 0.04% of the company’s stock.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a $0.96 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 7.79%. This is a boost from TC Energy’s previous quarterly dividend of $0.93. 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.