TC Energy Co. (TSE:TRP) Forecasted to Post Q2 2024 Earnings of $0.92 Per Share

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Stock analysts at Atb Cap Markets reduced their Q2 2024 earnings per share (EPS) estimates for TC Energy in a report issued on Tuesday, July 23rd. Atb Cap Markets analyst N. Heywood now expects that the company will earn $0.92 per share for the quarter, down from their previous forecast of $0.93. 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 earnings results on Friday, May 3rd. The company reported C$1.24 EPS for the quarter, beating 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 the consensus estimate 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 topic of several other research reports. Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from C$55.00 to C$61.00 in a research note on Wednesday, July 17th. Jefferies Financial Group lifted their target price on TC Energy from C$51.00 to C$52.00 and gave the stock a “hold” rating in a research report on Monday, May 6th. ATB Capital increased their price target on TC Energy from C$54.00 to C$56.00 in a report on Wednesday. Wells Fargo & Company upped their target price on TC Energy from C$59.00 to C$64.00 in a research report on Tuesday, June 4th. Finally, JPMorgan Chase & Co. upped their target price on TC Energy from C$58.00 to C$59.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, TC Energy presently has a consensus rating of “Hold” and a consensus target price of C$55.87.

TC Energy Trading Up 1.2 %

TRP opened at C$58.04 on Friday. The firm’s 50 day moving average is C$53.39 and its 200-day moving average is C$52.75. TC Energy has a 52-week low of C$43.70 and a 52-week 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 P/E ratio of 22.32, a P/E/G ratio of 0.26 and a beta of 0.74.

Insiders Place Their Bets

In related news, Senior Officer Christine R. Johnston sold 1,330 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 466 shares of the company’s stock, valued at approximately C$24,767.90. In other TC Energy news, Director Richard Prior sold 5,000 shares of the firm’s stock in a transaction 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. Also, Senior Officer Christine R. Johnston sold 1,330 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was 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 of the company’s stock, valued at approximately C$24,767.90. Over the last three months, insiders have sold 6,876 shares of company stock valued at $299,917. Company insiders own 0.04% of the company’s stock.

TC Energy Dividend Announcement

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

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.