TC Energy Co. to Post Q2 2024 Earnings of $1.59 Per Share, Zacks Research Forecasts (TSE:TRP)

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Stock analysts at Zacks Research reduced their Q2 2024 EPS estimates for TC Energy in a research report issued on Wednesday, April 24th. Zacks Research analyst T. Saha now forecasts that the company will post earnings per share of $1.59 for the quarter, down from their previous 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.

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

TRP has been the subject of a number of other reports. TD Securities raised their target price on shares of TC Energy from C$50.00 to C$51.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. raised their target price on shares of TC Energy from C$58.00 to C$59.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Royal Bank of Canada reduced their target price on shares of TC Energy from C$54.00 to C$49.00 and set an “outperform” rating for the company in a report on Tuesday, February 20th. Barclays raised their target price on shares of TC Energy from C$53.00 to C$55.00 in a report on Monday, January 29th. Finally, Scotiabank raised their target price on shares of TC Energy from C$55.00 to C$58.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, TC Energy currently has an average rating of “Hold” and a consensus target price of C$54.44.

TC Energy Trading Up 0.3 %

TC Energy stock opened at C$49.33 on Thursday. The stock has a market capitalization of C$51.30 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 0.26 and a beta of 0.73. TC Energy has a 12-month low of C$43.70 and a 12-month high of C$56.98. 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 50 day simple moving average of C$52.83 and a 200-day simple moving average of C$51.53.

Insiders Place Their Bets

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

TC Energy Increases Dividend

The business 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 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 dividend on an annualized basis and a yield of 7.78%. TC Energy’s dividend payout ratio is presently 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.