Atb Cap Markets Analysts Lower Earnings Estimates for TC Energy Co. (TSE:TRP)

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Research analysts at Atb Cap Markets cut their Q1 2024 earnings estimates for shares of TC Energy in a note issued to investors on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now expects that the company will post earnings per share of $1.18 for the quarter, down from their prior estimate of $1.21. The consensus estimate for TC Energy’s current full-year earnings is $4.18 per share. Atb Cap Markets also issued estimates for TC Energy’s FY2024 earnings at $4.14 EPS.

A number of other research firms have also weighed in on TRP. Royal Bank of Canada cut their target price on shares of 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. Stifel Nicolaus set a C$61.00 price target on shares of TC Energy and gave the company a “buy” rating in a research report on Thursday, January 18th. Jefferies Financial Group decreased their price objective on shares of TC Energy from C$57.00 to C$51.00 in a research note on Wednesday, April 17th. Barclays lifted their target price on TC Energy from C$53.00 to C$55.00 in a research report on Monday, January 29th. Finally, JPMorgan Chase & Co. raised their price target on TC Energy from C$58.00 to C$59.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$54.44.

TC Energy Price Performance

TC Energy stock opened at C$49.33 on Thursday. The firm has a market capitalization of C$51.30 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 0.26 and a beta of 0.73. The company has a fifty day simple moving average of C$52.83 and a 200-day simple moving average of C$51.53. TC Energy has a 52-week low of C$43.70 and a 52-week high of C$56.98. The company has a quick ratio of 0.40, a current ratio of 0.96 and a debt-to-equity ratio of 163.32.

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 for the quarter, topping analysts’ consensus estimates of C$1.08 by C$0.27. The business 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%.

Insider Buying and Selling

In related news, Senior Officer Dawn Elizabeth De Lima acquired 2,600 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average price of C$55.04 per share, for a total transaction of C$143,104.00. In other news, Director Alexis A.J. Hudy acquired 875 shares of TC Energy stock in a transaction on Monday, March 25th. The stock was bought at an average cost of C$54.97 per share, with a total value of C$48,098.75. Following the completion of the purchase, the director now owns 875 shares of the company’s stock, valued at C$48,098.75. Also, Senior Officer Dawn Elizabeth De Lima bought 2,600 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was purchased at an average cost of C$55.04 per share, for a total transaction of C$143,104.00. Insiders purchased 4,526 shares of company stock valued at $248,609 over the last 90 days. 0.04% of the stock is currently owned by company insiders.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.96 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.84 annualized dividend and a yield of 7.78%. This is an increase from TC Energy’s previous quarterly dividend of $0.93. TC Energy’s payout ratio is presently 139.64%.

TC Energy Company Profile

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.