TC Energy Co. (TSE:TRP) to Post Q1 2024 Earnings of $1.18 Per Share, Atb Cap Markets Forecasts

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Equities researchers at Atb Cap Markets cut their Q1 2024 earnings per share estimates for TC Energy in a report issued on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now anticipates that the company will post earnings of $1.18 per share for the quarter, down from their prior estimate of $1.21. The consensus estimate for TC Energy’s current full-year earnings is $4.18 per share. Atb Cap Markets also issued estimates for TC Energy’s FY2024 earnings at $4.14 EPS.

TC Energy (TSE:TRP) (NYSE:TRP) last released its earnings results on Friday, February 16th. The company reported C$1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.08 by C$0.27. The business had revenue of C$4.24 billion for the quarter, compared to analyst estimates of C$3.94 billion. TC Energy had a return on equity of 8.39% and a net margin of 18.34%.

TRP has been the topic of a number of other reports. Stifel Nicolaus set a C$61.00 price target on TC Energy and gave the company a “buy” rating in a research note on Thursday, January 18th. 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. ATB Capital set a C$54.00 target price on TC Energy and gave the stock a “sector perform” rating in a research report on Friday, January 5th. Royal Bank of Canada decreased their target price on TC Energy from C$54.00 to C$49.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 20th. Finally, Jefferies Financial Group cut their price target on TC Energy from C$57.00 to C$51.00 in a report on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, TC Energy has an average rating of “Hold” and an average price target of C$54.94.

TC Energy Stock Down 0.1 %

TC Energy stock opened at C$49.17 on Thursday. The company has a debt-to-equity ratio of 163.32, a current ratio of 0.96 and a quick ratio of 0.40. TC Energy has a 1-year low of C$43.70 and a 1-year high of C$56.98. The company has a market cap of C$51.14 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 0.26 and a beta of 0.73. The stock’s 50 day moving average price is C$52.88 and its 200 day moving average price is C$51.55.

Insider Transactions at TC Energy

In related news, Senior Officer Dawn Elizabeth De Lima bought 750 shares of the stock in a transaction dated Wednesday, March 20th. The stock was acquired at an average price of C$54.48 per share, for a total transaction of C$40,860.00. In related news, Senior Officer Dawn Elizabeth De Lima bought 750 shares of the stock in a transaction dated Wednesday, March 20th. The stock was acquired at an average price of C$54.48 per share, for a total transaction of C$40,860.00. Also, Director Alexis A.J. Hudy bought 875 shares of the stock in a transaction dated Monday, March 25th. The stock was 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 owns 875 shares of the company’s stock, valued at approximately C$48,098.75. Insiders have bought a total of 4,526 shares of company stock worth $248,609 in the last three months. 0.04% of the stock is currently owned by company insiders.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 7.81%. This is an increase from TC Energy’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Wednesday, March 27th. TC Energy’s dividend payout ratio (DPR) is 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.