TC Energy (TRP) to Release Quarterly Earnings on Thursday

TC Energy (TSE:TRP) (NYSE:TRP) will issue its quarterly earnings data before the market opens on Thursday, August 1st. Analysts expect the company to announce earnings of C$0.97 per share for the quarter.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings data 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. TC Energy had a return on equity of 8.37% and a net margin of 17.31%. The business had revenue of C$4.24 billion during the quarter, compared to the consensus estimate of C$4.26 billion.

TC Energy Price Performance

Shares of TRP stock opened at C$58.06 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.94 and a debt-to-equity ratio of 163.01. TC Energy has a twelve month low of C$44.70 and a twelve month high of C$58.58. The company has a market cap of C$60.38 billion, a P/E ratio of 22.33, a P/E/G ratio of 0.26 and a beta of 0.74. The business has a fifty day simple moving average of C$53.58 and a 200 day simple moving average of C$52.82.

TC Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a $0.96 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.84 annualized dividend and a yield of 6.61%. TC Energy’s dividend payout ratio is presently 147.69%.

Wall Street Analyst Weigh In

TRP has been the subject of several research reports. Jefferies Financial Group increased their target price on TC Energy from C$52.00 to C$57.00 and gave the company a “hold” rating in a research report on Monday. ATB Capital increased their target price on TC Energy from C$54.00 to C$56.00 in a research report on Wednesday, July 24th. CIBC increased their target price on TC Energy from C$56.00 to C$59.00 in a research report on Monday, July 15th. Wells Fargo & Company increased their price target on TC Energy from C$59.00 to C$64.00 in a research note on Tuesday, June 4th. Finally, Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the company from C$55.00 to C$61.00 in a research note on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$56.29.

Insider Buying and Selling

In related news, Director Kevin B. Engel sold 546 shares of the firm’s stock in a transaction that occurred on 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 TC Energy news, Director Kevin B. Engel sold 546 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was 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 stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of C$40.00, for a total value of C$200,000.00. Insiders sold 6,876 shares of company stock valued at $299,917 over the last 90 days. Company 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.