FY2024 EPS Estimates for TC Energy Raised by Atb Cap Markets

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Research analysts at Atb Cap Markets increased their FY2024 earnings estimates for shares of TC Energy in a report released on Tuesday, November 19th. Atb Cap Markets analyst N. Heywood now anticipates that the company will post earnings per share of $4.08 for the year, up from their previous forecast of $4.07. The consensus estimate for TC Energy’s current full-year earnings is $3.55 per share. Atb Cap Markets also issued estimates for TC Energy’s Q4 2025 earnings at $1.12 EPS, FY2025 earnings at $3.92 EPS and FY2026 earnings at $4.10 EPS.

A number of other equities research analysts also recently weighed in on TRP. Morgan Joseph upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating and raised their price target for the company from C$62.00 to C$78.00 in a research note on Friday, October 25th. UBS Group raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Royal Bank of Canada increased their price target on TC Energy from C$67.00 to C$71.00 in a research note on Friday, November 8th. Jefferies Financial Group raised their price objective on TC Energy from C$64.00 to C$65.00 in a report on Wednesday. Finally, Wells Fargo & Company upped their target price on TC Energy from C$74.00 to C$76.00 in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$69.54.

TC Energy Stock Performance

TSE:TRP opened at C$68.79 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84. The firm has a market capitalization of C$71.54 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. TC Energy has a twelve month low of C$43.83 and a twelve month high of C$70.24. The stock’s 50-day simple moving average is C$64.70 and its 200 day simple moving average is C$58.75.

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

Insider Activity at TC Energy

In other news, Director Lindsay Mackay sold 3,520 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of C$70.00, for a total value of C$246,400.00. Also, Director Mark Yeomans sold 6,500 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of C$61.58, for a total value of C$400,297.95. Insiders have sold a total of 89,490 shares of company stock worth $5,749,355 over the last quarter. Company insiders own 0.03% of the company’s stock.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $1.113 per share. This represents a $4.45 dividend on an annualized basis and a yield of 6.47%. The ex-dividend date is Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.96. TC Energy’s dividend payout ratio (DPR) is currently 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.