Q2 2024 EPS Estimates for TC Energy Co. Lifted by Zacks Research (TSE:TRP)

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Equities researchers at Zacks Research raised their Q2 2024 earnings estimates for shares of TC Energy in a report issued on Tuesday, July 23rd. Zacks Research analyst T. Saha now forecasts that the company will post earnings per share of $0.83 for the quarter, up from their previous forecast of $0.79. The consensus estimate for TC Energy’s current full-year earnings is $4.19 per share. Zacks Research also issued estimates for TC Energy’s Q4 2024 earnings at $1.02 EPS, FY2024 earnings at $3.87 EPS, Q1 2025 earnings at $1.06 EPS, Q3 2025 earnings at $0.96 EPS, Q4 2025 earnings at $0.95 EPS, FY2025 earnings at $3.93 EPS and Q1 2026 earnings at $1.09 EPS.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings results on Friday, May 3rd. The company reported C$1.24 EPS for the quarter, topping the consensus estimate of C$1.14 by C$0.10. TC Energy had a net margin of 17.31% and a return on equity of 8.37%. The firm had revenue of C$4.24 billion for the quarter, compared to analysts’ expectations of C$4.26 billion.

A number of other research analysts have also commented on the company. JPMorgan Chase & Co. upped their price target on TC Energy from C$58.00 to C$59.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Wells Fargo & Company raised their target price on TC Energy from C$59.00 to C$64.00 in a research report on Tuesday, June 4th. ATB Capital upped their target price on shares of TC Energy from C$54.00 to C$56.00 in a research note on Wednesday. Jefferies Financial Group boosted their target price on shares of TC Energy from C$51.00 to C$52.00 and gave the company a “hold” rating in a research note on Monday, May 6th. Finally, Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from C$55.00 to C$61.00 in a research note on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$55.87.

TC Energy Price Performance

Shares of TRP opened at C$58.04 on Thursday. The firm has a market cap of C$60.36 billion, a PE ratio of 22.32, a PEG ratio of 0.26 and a beta of 0.74. The firm’s 50 day moving average price is C$53.39 and its 200 day moving average price is C$52.75. The company has a debt-to-equity ratio of 163.01, a quick ratio of 0.40 and a current ratio of 0.94. TC Energy has a twelve month low of C$43.70 and a twelve month high of C$58.05.

TC Energy Dividend Announcement

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

Insider Buying and Selling

In other 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. In other TC Energy news, Director Richard Prior sold 5,000 shares of the company’s stock in a transaction that occurred 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, Director Kevin B. Engel sold 546 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of C$53.53, for a total transaction of C$29,227.38. Over the last 90 days, insiders sold 6,876 shares of company stock worth $299,917. Insiders own 0.04% of the company’s stock.

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.