TC Energy Co. Forecasted to Earn Q1 2024 Earnings of $1.13 Per Share (TSE:TRP)

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Equities research analysts at National Bank Financial issued their Q1 2024 earnings per share estimates for TC Energy in a report issued on Tuesday, April 23rd. National Bank Financial analyst P. Kenny forecasts that the company will earn $1.13 per share for the quarter. The consensus estimate for TC Energy’s current full-year earnings is $4.18 per share.

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

TRP has been the subject of several other reports. CIBC raised their price target on shares of TC Energy from C$54.00 to C$55.00 and gave the stock a “neutral” rating in a research note on Monday, January 8th. JPMorgan Chase & Co. boosted their price target on shares of TC Energy from C$58.00 to C$59.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Scotiabank raised their price objective on TC Energy from C$55.00 to C$58.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Royal Bank of Canada lowered their price objective 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. Finally, ATB Capital set a C$54.00 price target on TC Energy and gave the stock a “sector perform” rating in a report on Friday, January 5th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$54.44.

TC Energy Stock Performance

Shares of TC Energy stock opened at C$49.33 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 firm has a market cap of C$51.30 billion, a price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 0.26 and a beta of 0.73. The stock’s 50-day moving average is C$52.83 and its 200-day moving average is C$51.53. TC Energy has a one year low of C$43.70 and a one year high of C$56.98.

Insiders Place Their Bets

In related news, Director Kevin B. Engel sold 2,514 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$54.33, for a total transaction of C$136,593.16. Following the sale, the director now owns -29 shares of the company’s stock, valued at approximately C($1,575.66). In other news, Senior Officer Dawn Elizabeth De Lima purchased 750 shares of the stock in a transaction on Wednesday, March 20th. The stock was purchased at an average price of C$54.48 per share, for a total transaction of C$40,860.00. Also, Director Kevin B. Engel sold 2,514 shares of the 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 of the company’s stock, valued at C($1,575.66). Over the last 90 days, insiders acquired 4,526 shares of company stock valued at $248,609. 0.04% of the stock is currently owned by corporate 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 given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 7.78%. The ex-dividend date is Wednesday, March 27th. This is a boost from TC Energy’s previous quarterly dividend of $0.93. TC Energy’s payout ratio is currently 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.