Q2 2024 EPS Estimates for TC Energy Co. (TSE:TRP) Lifted by Atb Cap Markets

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Investment analysts at Atb Cap Markets upped their Q2 2024 earnings per share estimates for shares of TC Energy in a research report issued to clients and investors on Monday, May 6th. Atb Cap Markets analyst N. Heywood now forecasts that the company will post earnings of $0.93 per share for the quarter, up from their prior forecast of $0.88. The consensus estimate for TC Energy’s current full-year earnings is $4.19 per share. Atb Cap Markets also issued estimates for TC Energy’s Q3 2024 earnings at $0.98 EPS, FY2024 earnings at $4.23 EPS, Q1 2025 earnings at $1.26 EPS, Q2 2025 earnings at $0.95 EPS, Q3 2025 earnings at $1.04 EPS and Q4 2025 earnings at $1.20 EPS.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings data on Friday, February 16th. The company reported C$1.35 earnings per share for the quarter, topping the consensus estimate of C$1.08 by C$0.27. The business had revenue of C$4.24 billion for the quarter, compared to analysts’ expectations of C$3.94 billion. TC Energy had a return on equity of 8.37% and a net margin of 17.24%.

A number of other research analysts have also recently weighed in on TRP. Barclays boosted their target price on shares of TC Energy from C$53.00 to C$55.00 in a research note on Monday, January 29th. JPMorgan Chase & Co. raised their target price on TC Energy from C$58.00 to C$59.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Jefferies Financial Group upped their price target on TC Energy from C$51.00 to C$52.00 and gave the company a “hold” rating in a research report on Monday. Scotiabank lifted their price objective on TC Energy from C$55.00 to C$58.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Finally, Stifel Nicolaus set a C$61.00 price objective on shares of TC Energy and gave the company a “buy” rating in a report on Thursday, January 18th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$54.50.

TC Energy Trading Up 0.4 %

TSE TRP opened at C$52.20 on Thursday. The stock has a market capitalization of C$54.29 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 0.26 and a beta of 0.73. The business’s fifty day moving average is C$52.26 and its 200-day moving average is C$51.75. The company has a debt-to-equity ratio of 162.75, a current ratio of 0.94 and a quick ratio of 0.40. TC Energy has a one year low of C$43.70 and a one year high of C$56.50.

Insiders Place Their Bets

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 shares were sold at an average price of C$54.33, for a total transaction 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). In other TC Energy 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 transaction of C$136,593.16. Following the sale, the director now owns -29 shares in the company, valued at C($1,575.66). Also, Senior Officer Dawn Elizabeth De Lima acquired 2,600 shares of the business’s stock in a transaction dated 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. Insiders have acquired 4,526 shares of company stock worth $248,609 in the last ninety days. 0.04% of the stock is currently owned by insiders.

TC Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 7.36%. The ex-dividend date is Friday, June 28th. TC Energy’s payout ratio is 146.56%.

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.