TC Energy Co. (TSE:TRP) to Post Q2 2024 Earnings of $0.92 Per Share, National Bank Financial Forecasts

TC Energy Co. (TSE:TRP) (NYSE:TRP) – National Bank Financial issued their Q2 2024 EPS estimates for TC Energy in a note issued to investors on Wednesday, July 24th. National Bank Financial analyst P. Kenny anticipates that the company will post earnings of $0.92 per share for the quarter. The consensus estimate for TC Energy’s current full-year earnings is $4.19 per share.

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

TC Energy Trading Up 1.2 %

TC Energy stock opened at C$58.04 on Friday. The company has a debt-to-equity ratio of 163.01, a quick ratio of 0.40 and a current ratio of 0.94. The stock has a market cap of C$60.36 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 0.26 and a beta of 0.74. The stock has a 50-day moving average of C$53.39 and a two-hundred day moving average of C$52.75. TC Energy has a one year low of C$43.70 and a one year high of C$58.05.

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

Insider Buying and Selling

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

TC Energy Announces Dividend

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

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.