TC Energy Co. Forecasted to Earn Q3 2024 Earnings of $1.01 Per Share (TSE:TRP)

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Stock analysts at Atb Cap Markets increased their Q3 2024 earnings estimates for shares of TC Energy in a research note issued on Wednesday, July 31st. Atb Cap Markets analyst N. Heywood now expects that the company will post earnings of $1.01 per share for the quarter, up from their prior forecast of $0.98. The consensus estimate for TC Energy’s current full-year earnings is $4.19 per share. Atb Cap Markets also issued estimates for TC Energy’s Q4 2024 earnings at $1.07 EPS, Q2 2025 earnings at $0.94 EPS and FY2026 earnings at $4.81 EPS.

TRP has been the topic of a number of other research reports. BMO Capital Markets increased their target price on TC Energy from C$55.00 to C$57.00 in a research note on Friday. Wells Fargo & Company increased their target price on TC Energy from C$59.00 to C$64.00 in a research note on Tuesday, June 4th. ATB Capital upped their price target on shares of TC Energy from C$54.00 to C$56.00 in a research report on Wednesday, July 24th. National Bankshares upped their price target on shares of TC Energy from C$58.00 to C$60.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Scotiabank cut their price target on shares of TC Energy from C$68.00 to C$62.00 and set an “outperform” rating for the company in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$56.73.

TC Energy Trading Down 0.7 %

TC Energy stock opened at C$59.29 on Friday. The stock has a market cap of C$61.66 billion, a P/E ratio of 22.80, a PEG ratio of 0.26 and a beta of 0.74. TC Energy has a fifty-two week low of C$44.70 and a fifty-two week high of C$59.98. The firm’s fifty day moving average price is C$53.97 and its 200-day moving average price is C$52.95. The company has a debt-to-equity ratio of 163.01, a quick ratio of 0.40 and a current ratio of 0.94.

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

TC Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 6.48%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio is presently 147.69%.

Insider Transactions at TC Energy

In other news, Senior Officer Christine R. Johnston sold 1,330 shares of TC Energy stock in a transaction on Thursday, May 16th. The shares were sold at an average price of C$53.15, for a total transaction of C$70,689.50. Following the transaction, the insider now owns 466 shares in the company, valued at approximately C$24,767.90. In related news, Senior Officer Christine R. Johnston sold 1,330 shares of TC Energy stock in a transaction on Thursday, May 16th. The shares were sold at an average price of C$53.15, for a total transaction of C$70,689.50. Following the transaction, the insider now owns 466 shares in the company, valued at approximately C$24,767.90. Also, Director Kevin B. Engel sold 546 shares of TC Energy stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of C$53.53, for a total transaction of C$29,227.38. Insiders have sold 6,876 shares of company stock worth $299,917 in the last 90 days. 0.04% of the stock is currently owned by insiders.

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.