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

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Investment analysts at National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for shares of TC Energy in a report released 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.

Several other equities analysts have also recently issued reports on TRP. TD Securities boosted their target price on TC Energy from C$50.00 to C$51.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. CIBC boosted their target price on TC Energy from C$54.00 to C$55.00 and gave the stock a “neutral” rating in a research report on Monday, January 8th. Jefferies Financial Group dropped their target price on TC Energy from C$57.00 to C$51.00 in a research report on Wednesday, April 17th. Barclays boosted their target price on TC Energy from C$53.00 to C$55.00 in a research report on Monday, January 29th. Finally, National Bankshares upped their price target on TC Energy from C$54.00 to C$58.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$54.94.

TC Energy Stock Performance

TSE TRP opened at C$49.17 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.40 and a debt-to-equity ratio of 163.32. The business’s 50 day moving average is C$52.88 and its two-hundred day moving average is C$51.55. TC Energy has a 12-month low of C$43.70 and a 12-month high of C$56.98. The stock has a market capitalization of C$51.14 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 0.26 and a beta of 0.73.

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

Insider Activity at TC Energy

In related news, Director Alexis A.J. Hudy bought 875 shares of TC Energy stock in a transaction that occurred on Monday, March 25th. The shares were purchased at an average price of C$54.97 per share, with a total value of C$48,098.75. Following the purchase, the director now owns 875 shares in the company, valued at C$48,098.75. In other TC Energy news, Director Alexis A.J. Hudy purchased 875 shares of TC Energy stock in a transaction on Monday, March 25th. The shares were bought at an average price of C$54.97 per share, with a total value of C$48,098.75. Following the purchase, the director now directly owns 875 shares in the company, valued at approximately C$48,098.75. Also, Senior Officer Dawn Elizabeth De Lima purchased 2,600 shares of TC Energy stock in a transaction on Monday, March 25th. The shares were acquired at an average cost of C$55.04 per share, for a total transaction of C$143,104.00. In the last 90 days, insiders have purchased 4,526 shares of company stock valued at $248,609. 0.04% of the stock is owned by corporate insiders.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a $0.96 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.84 dividend on an annualized basis and a yield of 7.81%. This is a positive change from TC Energy’s previous quarterly dividend of $0.93. 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.