TC Energy Co. (TSE:TRP) to Post Q1 2024 Earnings of $1.13 Per Share, National Bank Financial Forecasts

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Investment analysts at National Bank Financial issued their Q1 2024 earnings per share estimates for TC Energy in a note issued to investors on Tuesday, April 23rd. National Bank Financial analyst P. Kenny anticipates that the company will post earnings per share of $1.13 for the quarter. The consensus estimate for TC Energy’s current full-year earnings is $4.18 per share.

Several other brokerages also recently commented on TRP. Jefferies Financial Group reduced their target price on TC Energy from C$57.00 to C$51.00 in a research note on Wednesday, April 17th. Scotiabank lifted their price objective on TC Energy from C$55.00 to C$58.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. TD Securities boosted 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. CIBC boosted their price target on TC Energy from C$54.00 to C$55.00 and gave the stock a “neutral” rating in a report on Monday, January 8th. Finally, Stifel Nicolaus set a C$61.00 price objective on TC Energy and gave the stock a “buy” rating in a research report on Thursday, January 18th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$54.44.

TC Energy Stock Down 0.1 %

Shares of TC Energy stock opened at C$49.30 on Thursday. The business’s 50 day simple moving average is C$52.75 and its 200 day simple moving average is C$51.56. TC Energy has a 52-week low of C$43.70 and a 52-week high of C$56.98. The firm has a market cap of C$51.27 billion, a PE ratio of 17.93, a P/E/G ratio of 0.26 and a beta of 0.73. The company has a debt-to-equity ratio of 163.32, a quick ratio of 0.40 and a current ratio of 0.96.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its earnings results on Friday, February 16th. The company reported C$1.35 earnings per share (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 business had revenue of C$4.24 billion for the quarter, compared to analyst estimates of C$3.94 billion.

Insider Buying and Selling

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 purchased at an average price of C$55.04 per share, with a total value of C$143,104.00. In related news, Senior Officer Dawn Elizabeth De Lima bought 2,600 shares of the stock in a transaction dated Monday, March 25th. The stock was bought 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 business’s stock in a transaction dated Friday, March 15th. The shares were 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 of the company’s stock, valued at approximately C($1,575.66). Insiders acquired a total of 4,526 shares of company stock worth $248,609 over the last ninety days. 0.04% of the stock is owned by corporate insiders.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 7.79%. 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.