Analysts Set Expectations for TC Energy FY2024 Earnings

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Investment analysts at National Bank Financial lifted their FY2024 earnings per share (EPS) estimates for shares of TC Energy in a note issued to investors on Monday, January 6th. National Bank Financial analyst P. Kenny now expects that the company will post earnings of $4.15 per share for the year, up from their previous forecast of $4.12. The consensus estimate for TC Energy’s current full-year earnings is $3.55 per share. National Bank Financial also issued estimates for TC Energy’s FY2025 earnings at $4.06 EPS and FY2028 earnings at $4.74 EPS.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, topping the consensus estimate of C$0.97 by C$0.06. The business had revenue of C$4.08 billion for the quarter, compared to analyst estimates of C$3.90 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%.

TRP has been the topic of a number of other reports. Scotiabank lifted their target price on shares of TC Energy from C$74.00 to C$75.00 in a report on Wednesday, November 20th. Barclays upped their target price on shares of TC Energy from C$67.00 to C$74.00 in a report on Wednesday, November 20th. Morgan Joseph upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating and increased their target price for the stock from C$62.00 to C$78.00 in a research note on Friday, October 25th. ATB Capital boosted their price target on TC Energy from C$64.00 to C$65.00 in a research report on Friday, November 8th. Finally, Raymond James raised TC Energy to a “hold” rating in a research report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$69.77.

TC Energy Price Performance

Shares of TRP opened at C$68.68 on Wednesday. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. TC Energy has a 1-year low of C$43.83 and a 1-year high of C$70.32. The stock has a market cap of C$71.43 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The firm has a fifty day moving average price of C$67.43 and a 200 day moving average price of C$62.18.

Insiders Place Their Bets

In related news, Director Alexander (Alex) Oehler purchased 6,540 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of C$66.05 per share, for a total transaction of C$431,947.64. Also, Senior Officer Nancy Angenita Johnson sold 3,328 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of C$67.75, for a total value of C$225,472.00. Insiders have sold a total of 420,911 shares of company stock valued at $28,259,105 over the last quarter. Company insiders own 0.03% of the company’s stock.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $1.113 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $4.45 annualized dividend and a yield of 6.48%. TC Energy’s dividend payout ratio is 116.01%.

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.