Brokers Set Expectations for TC Energy FY2024 Earnings

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Investment analysts at US Capital Advisors lifted their FY2024 earnings estimates for TC Energy in a report issued on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now forecasts that the company will post earnings of $4.39 per share for the year, up from their previous estimate of $4.04. The consensus estimate for TC Energy’s current full-year earnings is $3.55 per share. US Capital Advisors also issued estimates for TC Energy’s Q4 2024 earnings at $0.90 EPS, Q1 2025 earnings at $0.94 EPS, Q2 2025 earnings at $0.75 EPS, Q3 2025 earnings at $0.87 EPS, Q4 2025 earnings at $0.90 EPS, FY2025 earnings at $3.47 EPS and FY2026 earnings at $3.34 EPS.

TRP has been the subject of several other reports. ATB Capital lifted their price objective on shares of TC Energy from C$64.00 to C$65.00 in a research note on Friday, November 8th. CIBC lifted their price objective on shares of TC Energy from C$67.00 to C$68.00 in a research note on Wednesday, November 20th. Wells Fargo & Company lifted their price objective on shares of TC Energy from C$74.00 to C$76.00 in a research note on Wednesday, November 20th. Royal Bank of Canada lifted their price objective on shares of TC Energy from C$67.00 to C$71.00 in a research note on Friday, November 8th. Finally, UBS Group raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, TC Energy currently has a consensus rating of “Hold” and an average target price of C$69.54.

TC Energy Stock Down 0.9 %

TSE TRP opened at C$67.93 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 company has a fifty day moving average of C$65.32 and a two-hundred day moving average of C$59.39. The firm has a market capitalization of C$70.65 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 1.69 and a beta of 0.82. TC Energy has a 52 week low of C$43.83 and a 52 week high of C$70.32.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly 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. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The company had revenue of C$4.08 billion for the quarter, compared to analysts’ expectations of C$3.90 billion.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $1.113 dividend. The ex-dividend date is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.96. This represents a $4.45 dividend on an annualized basis and a yield of 6.55%. TC Energy’s dividend payout ratio is 116.01%.

Insider Buying and Selling

In other news, Senior Officer Patrick M. Keys sold 17,127 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of C$62.71, for a total transaction of C$1,074,049.58. Also, Senior Officer Francois Lionel Poirier sold 118,243 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of C$68.38, for a total transaction of C$8,085,219.85. Insiders sold a total of 207,976 shares of company stock valued at $13,899,631 over the last three months. 0.03% of the stock is owned by company insiders.

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.