TC Energy Co. (TSE:TRP) Forecasted to Post Q1 2024 Earnings of $1.13 Per Share

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Equities researchers at National Bank Financial issued their Q1 2024 EPS estimates for TC Energy in a research note issued to investors on Tuesday, April 23rd. National Bank Financial analyst P. Kenny forecasts that the company will earn $1.13 per share for the quarter. The consensus estimate for TC Energy’s current full-year earnings is $4.18 per share.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings results on Friday, February 16th. The company reported C$1.35 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.08 by C$0.27. TC Energy had a net margin of 18.34% and a return on equity of 8.39%. The business had revenue of C$4.24 billion for the quarter, compared to the consensus estimate of C$3.94 billion.

Other equities research analysts have also recently issued reports about the stock. CIBC upped their price objective on shares of TC Energy from C$54.00 to C$55.00 and gave the stock a “neutral” rating in a report on Monday, January 8th. Stifel Nicolaus set a C$61.00 price objective on shares of TC Energy and gave the stock a “buy” rating in a report on Thursday, January 18th. TD Securities upped their price objective on shares of TC Energy from C$50.00 to C$51.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. Barclays upped their price objective on shares of TC Energy from C$53.00 to C$55.00 in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. upped their price objective on shares of TC Energy from C$58.00 to C$59.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$54.94.

TC Energy Trading Down 0.1 %

TSE TRP opened at C$49.17 on Thursday. TC Energy has a 1-year low of C$43.70 and a 1-year high of C$56.98. The company has a current ratio of 0.96, a quick ratio of 0.40 and a debt-to-equity ratio of 163.32. The company has a market capitalization of C$51.14 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 0.26 and a beta of 0.73. The firm’s fifty day simple moving average is C$52.88 and its 200-day simple moving average is C$51.55.

Insider Activity

In other news, Director Kevin B. Engel sold 2,514 shares of the company’s stock in a transaction dated 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 transaction, the director now owns -29 shares of the company’s stock, valued at C($1,575.66). In related news, Director Kevin B. Engel sold 2,514 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of C$54.33, for a total value of C$136,593.16. Following the completion of the transaction, the director now owns -29 shares of the company’s stock, valued at C($1,575.66). Also, Director Alexis A.J. Hudy purchased 875 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was acquired at an average cost of C$54.97 per share, with a total value of C$48,098.75. Following the transaction, the director now directly owns 875 shares of the company’s stock, valued at C$48,098.75. Over the last 90 days, insiders purchased 4,526 shares of company stock valued at $248,609. Insiders own 0.04% of the company’s stock.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.96 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 7.81%. This is a positive change from TC Energy’s previous quarterly dividend of $0.93. TC Energy’s dividend payout ratio is currently 139.64%.

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.