TC Energy Co. (TSE:TRP – Free Report) (NYSE:TRP) – Research analysts at Scotiabank lowered their FY2024 earnings per share estimates for TC Energy in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst R. Hope now expects that the company will post earnings per share of $4.24 for the year, down from their previous estimate of $4.36. The consensus estimate for TC Energy’s current full-year earnings is $3.55 per share. Scotiabank also issued estimates for TC Energy’s FY2025 earnings at $3.73 EPS.
A number of other equities analysts also recently commented on TRP. Veritas upgraded TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Morgan Joseph raised shares of TC Energy from an “underweight” rating to an “overweight” rating and lifted their price target for the company from C$62.00 to C$78.00 in a research report on Friday, October 25th. BMO Capital Markets boosted their price objective on shares of TC Energy from C$70.00 to C$73.00 in a research note on Friday, November 29th. UBS Group raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of TC Energy from C$70.00 to C$79.00 in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$69.92.
TC Energy Stock Down 2.3 %
Shares of TRP opened at C$67.31 on Monday. TC Energy has a fifty-two week low of C$43.83 and a fifty-two week high of C$70.32. The company’s fifty day moving average is C$67.57 and its two-hundred day moving average is C$62.47. The firm has a market cap of C$70.00 billion, a PE ratio of 20.34, a price-to-earnings-growth 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.
TC Energy (TSE:TRP – Get Free Report) (NYSE:TRP) last issued its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.97 by C$0.06. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. The company had revenue of C$4.08 billion for the quarter, compared to analyst estimates of C$3.90 billion.
Insider Activity at TC Energy
In other TC Energy news, Director Alexander (Alex) Oehler purchased 6,540 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were bought at an average price of C$66.05 per share, with a total value of C$431,947.64. Also, Director Trevor Ebl sold 9,554 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of C$68.48, for a total value of C$654,219.70. In the last ninety days, insiders have sold 420,911 shares of company stock valued at $28,259,105. Corporate insiders own 0.03% of the company’s stock.
TC Energy Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $1.113 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, December 31st. This represents a $4.45 annualized dividend and a dividend yield of 6.61%. TC Energy’s dividend payout ratio (DPR) is presently 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.
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