TC Energy Co. (TSE:TRP) Forecasted to Post Q2 2024 Earnings of $0.92 Per Share

TC Energy Co. (TSE:TRP) (NYSE:TRP) – US Capital Advisors reduced their Q2 2024 earnings per share estimates for TC Energy in a research note issued on Tuesday, May 21st. US Capital Advisors analyst J. Carreker now expects that the company will post earnings of $0.92 per share for the quarter, down from their prior estimate of $0.93. The consensus estimate for TC Energy’s current full-year earnings is $4.21 per share. US Capital Advisors also issued estimates for TC Energy’s Q3 2024 earnings at $0.94 EPS, Q4 2024 earnings at $1.03 EPS, Q1 2025 earnings at $0.98 EPS, Q2 2025 earnings at $0.88 EPS, Q3 2025 earnings at $1.02 EPS, FY2025 earnings at $3.92 EPS and FY2026 earnings at $3.83 EPS.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its earnings results on Friday, May 3rd. The company reported C$1.24 EPS for the quarter, beating analysts’ consensus estimates of C$1.14 by C$0.10. TC Energy had a return on equity of 8.37% and a net margin of 17.31%. The firm had revenue of C$4.24 billion for the quarter, compared to the consensus estimate of C$4.26 billion.

Several other equities analysts have also recently weighed in on TRP. Scotiabank boosted their price objective on TC Energy from C$55.00 to C$58.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. upped their price target on TC Energy from C$58.00 to C$59.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. TD Securities upped their price target on TC Energy from C$50.00 to C$51.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. National Bankshares upped their price target on TC Energy from C$54.00 to C$58.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Finally, 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 report on Monday, May 6th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$54.50.

TC Energy Price Performance

Shares of TSE:TRP opened at C$52.43 on Thursday. TC Energy has a fifty-two week low of C$43.70 and a fifty-two week high of C$55.91. The business has a 50-day moving average of C$51.89 and a two-hundred day moving average of C$52.13. The stock has a market capitalization of C$54.53 billion, a P/E ratio of 20.01, a P/E/G ratio of 0.26 and a beta of 0.74. The company has a debt-to-equity ratio of 163.01, a current ratio of 0.94 and a quick ratio of 0.40.

TC Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 7.32%. The ex-dividend date of this dividend is Friday, June 28th. TC Energy’s payout ratio is presently 146.56%.

Insider Buying and Selling

In other TC Energy news, Senior Officer Dawn Elizabeth De Lima acquired 750 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were acquired at an average price of C$54.48 per share, with a total value of C$40,860.00. In other news, Senior Officer Dawn Elizabeth De Lima purchased 750 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were purchased at an average price of C$54.48 per share, with a total value of C$40,860.00. Also, Senior Officer Christine R. Johnston sold 1,330 shares of TC Energy stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of C$53.15, for a total value of C$70,689.50. Following the completion of the sale, the insider now directly owns 466 shares in the company, valued at approximately C$24,767.90. In the last quarter, insiders have acquired 4,526 shares of company stock valued at $248,609. 0.04% of the stock is owned by company insiders.

TC Energy Company Profile

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.