TC Energy Co. Expected to Earn FY2024 Earnings of $4.10 Per Share (TSE:TRP)

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Investment analysts at National Bank Financial decreased their FY2024 earnings per share estimates for shares of TC Energy in a report issued on Wednesday, October 2nd. National Bank Financial analyst P. Kenny now forecasts that the company will post earnings per share of $4.10 for the year, down from their previous estimate of $4.22. The consensus estimate for TC Energy’s current full-year earnings is $4.42 per share.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, topping the consensus estimate of C$0.89 by C$0.05. The company had revenue of C$4.09 billion during the quarter, compared to analyst estimates of C$3.78 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%.

Other analysts have also recently issued research reports about the company. Jefferies Financial Group increased their target price on TC Energy from C$57.00 to C$66.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. UBS Group upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. CIBC decreased their price objective on TC Energy from C$62.00 to C$57.00 and set a “negative” rating for the company in a report on Wednesday, October 2nd. Royal Bank of Canada upped their price target on TC Energy from C$66.00 to C$67.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, BMO Capital Markets cut their price objective on TC Energy from C$65.00 to C$55.00 and set a “market perform” rating for the company in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$59.23.

TC Energy Stock Performance

TSE:TRP opened at C$61.22 on Monday. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. TC Energy has a 1-year low of C$44.70 and a 1-year high of C$65.39. The business has a 50 day moving average of C$61.41 and a 200 day moving average of C$55.64. The company has a market capitalization of C$63.67 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 0.26 and a beta of 0.82.

TC Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 6.27%. TC Energy’s dividend payout ratio (DPR) is 116.01%.

Insider Activity

In related news, Senior Officer Christine R. Johnston sold 16,292 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of C$59.71, for a total transaction of C$972,795.32. Following the completion of the transaction, the insider now directly owns 466 shares in the company, valued at C$27,824.86. This represents a 0.00 % decrease in their position. In other news, Director Richard Prior sold 18,068 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of C$63.00, for a total value of C$1,138,284.00. Also, Senior Officer Christine R. Johnston sold 16,292 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of C$59.71, for a total value of C$972,795.32. Following the completion of the sale, the insider now owns 466 shares of the company’s stock, valued at approximately C$27,824.86. This trade represents a 0.00 % decrease in their position. In the last ninety days, insiders sold 95,479 shares of company stock worth $5,860,018. 0.04% of the stock is currently owned by 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.