National Bank Financial Weighs in on TC Energy Q3 Earnings

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Investment analysts at National Bank Financial issued their Q3 2024 earnings per share (EPS) estimates for shares of TC Energy in a report issued on Wednesday, October 23rd. National Bank Financial analyst P. Kenny expects that the company will earn $1.01 per share for the quarter. The consensus estimate for TC Energy’s current full-year earnings is $3.55 per share.

Other analysts have also issued reports about the stock. Royal Bank of Canada boosted their target price on shares of TC Energy from C$66.00 to C$67.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. UBS Group raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. Barclays raised their target price on TC Energy from C$66.00 to C$67.00 in a report on Monday, October 21st. BMO Capital Markets cut their price target on TC Energy from C$65.00 to C$55.00 and set a “market perform” rating for the company in a report on Wednesday, October 2nd. Finally, ATB Capital decreased their price objective on TC Energy from C$60.00 to C$58.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$61.92.

TC Energy Trading Up 0.9 %

TC Energy stock opened at C$65.68 on Friday. TC Energy has a 52-week low of C$42.45 and a 52-week high of C$66.70. The company has a market cap of C$68.31 billion, a P/E ratio of 19.84, a P/E/G ratio of 1.69 and a beta of 0.82. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84. The business has a 50-day simple moving average of C$62.62 and a two-hundred day simple moving average of C$56.49.

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

Insider Activity at TC Energy

In other TC Energy news, Director Jawad Masud sold 6,041 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of C$63.50, for a total transaction of C$383,603.50. In other TC Energy news, Director Jawad Masud sold 6,041 shares of TC Energy stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of C$63.50, for a total value of C$383,603.50. Also, Director Colin Lindley sold 2,773 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of C$59.42, for a total value of C$164,761.40. Following the transaction, the director now owns 697 shares of the company’s stock, valued at C$41,413.16. This represents a 0.00 % decrease in their ownership of the stock. Over the last ninety days, insiders sold 95,479 shares of company stock valued at $5,860,018. Corporate insiders own 0.03% of the company’s stock.

TC Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.96 per share. 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 5.85%. TC Energy’s dividend payout ratio is 116.01%.

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.