Q2 2024 Earnings Estimate for TC Energy Co. (TSE:TRP) Issued By Zacks Research

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Equities researchers at Zacks Research cut their Q2 2024 earnings per share (EPS) estimates for TC Energy in a report issued on Wednesday, April 24th. Zacks Research analyst T. Saha now forecasts that the company will post earnings of $1.59 per share for the quarter, down from their prior forecast of $1.60. The consensus estimate for TC Energy’s current full-year earnings is $4.18 per share. Zacks Research also issued estimates for TC Energy’s Q4 2024 earnings at $1.01 EPS, Q1 2025 earnings at $1.17 EPS, Q3 2025 earnings at $0.46 EPS, Q4 2025 earnings at $0.95 EPS, FY2025 earnings at $4.20 EPS, Q1 2026 earnings at $1.18 EPS and FY2026 earnings at $4.42 EPS.

TRP has been the topic of a number of other research reports. Stifel Nicolaus set a C$61.00 price objective on TC Energy and gave the stock a “buy” rating in a research note on Thursday, January 18th. Barclays boosted their price objective on TC Energy from C$53.00 to C$55.00 in a research note on Monday, January 29th. Jefferies Financial Group lowered their price objective on TC Energy from C$57.00 to C$51.00 in a research note on Wednesday, April 17th. ATB Capital set a C$54.00 price objective on TC Energy and gave the stock a “sector perform” rating in a research note on Friday, January 5th. Finally, Royal Bank of Canada lowered their price objective on TC Energy from C$54.00 to C$49.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 20th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of C$54.44.

TC Energy Stock Performance

Shares of TSE:TRP opened at C$49.30 on Thursday. The company has a debt-to-equity ratio of 163.32, a current ratio of 0.96 and a quick ratio of 0.40. The business’s 50 day moving average price is C$52.75 and its 200-day moving average price is C$51.56. The firm has a market capitalization of C$51.27 billion, a PE ratio of 17.93, a P/E/G ratio of 0.26 and a beta of 0.73. TC Energy has a 1 year low of C$43.70 and a 1 year high of C$56.98.

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

Insiders Place Their Bets

In related news, Director Alexis A.J. Hudy purchased 875 shares of the business’s stock in a transaction on Monday, March 25th. The shares were bought at an average price of C$54.97 per share, for a total transaction of C$48,098.75. Following the acquisition, the director now directly owns 875 shares in the company, valued at C$48,098.75. In related news, Director Alexis A.J. Hudy purchased 875 shares of the business’s stock in a transaction on Monday, March 25th. The shares were bought at an average price of C$54.97 per share, for a total transaction of C$48,098.75. Following the acquisition, the director now directly owns 875 shares in the company, valued at C$48,098.75. Also, Director Kevin B. Engel sold 2,514 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of C$54.33, for a total value of C$136,593.16. Following the sale, the director now owns -29 shares in the company, valued at approximately C($1,575.66). Insiders have purchased a total of 4,526 shares of company stock worth $248,609 in the last quarter. 0.04% of the stock is owned by company insiders.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.96 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.93. The ex-dividend date is Wednesday, March 27th. This represents a $3.84 annualized dividend and a yield of 7.79%. TC Energy’s dividend payout ratio is 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.