Analysts Issue Forecasts for TC Energy Co.’s Q2 2024 Earnings (TSE:TRP)

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Stock analysts at National Bank Financial issued their Q2 2024 EPS estimates for TC Energy in a report released on Wednesday, July 24th. National Bank Financial analyst P. Kenny anticipates that the company will earn $0.92 per share for the quarter. The consensus estimate for TC Energy’s current full-year earnings is $4.19 per share.

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

TRP has been the subject of a number of other reports. CIBC lifted their price objective on shares of TC Energy from C$56.00 to C$59.00 in a report on Monday, July 15th. Jefferies Financial Group boosted their price objective on TC Energy from C$51.00 to C$52.00 and gave the stock a “hold” rating in a report on Monday, May 6th. ATB Capital raised their target price on TC Energy from C$54.00 to C$56.00 in a report on Wednesday. Wells Fargo & Company upped their price target on TC Energy from C$59.00 to C$64.00 in a report on Tuesday, June 4th. Finally, Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from C$55.00 to C$61.00 in a research note on Wednesday, July 17th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$55.87.

TC Energy Price Performance

Shares of TSE:TRP opened at C$58.04 on Friday. The stock’s 50 day moving average is C$53.39 and its 200-day moving average is C$52.75. TC Energy has a twelve month low of C$43.70 and a twelve month high of C$58.05. The company has a quick ratio of 0.40, a current ratio of 0.94 and a debt-to-equity ratio of 163.01. The firm has a market capitalization of C$60.36 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 0.26 and a beta of 0.74.

TC Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a $0.96 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.84 annualized dividend and a dividend yield of 6.62%. TC Energy’s payout ratio is currently 147.69%.

Insider Buying and Selling

In other news, Director Kevin B. Engel sold 546 shares of TC Energy stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of C$53.53, for a total transaction of C$29,227.38. In other news, Director Kevin B. Engel sold 546 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of C$53.53, for a total value of C$29,227.38. Also, Director Richard Prior sold 5,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of C$40.00, for a total transaction of C$200,000.00. Over the last quarter, insiders have sold 6,876 shares of company stock worth $299,917. Corporate insiders own 0.04% of the company’s stock.

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.