TC Energy Co. (TSE:TRP) Forecasted to Earn FY2024 Earnings of $4.22 Per Share

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Equities researchers at National Bank Financial raised their FY2024 EPS estimates for shares of TC Energy in a research report issued to clients and investors on Thursday, August 1st. National Bank Financial analyst P. Kenny now anticipates that the company will post earnings of $4.22 per share for the year, up from their previous estimate of $4.15. The consensus estimate for TC Energy’s current full-year earnings is $4.19 per share. National Bank Financial also issued estimates for TC Energy’s FY2025 earnings at $4.31 EPS.

Several other research firms have also commented on TRP. National Bankshares boosted their price objective on shares of TC Energy from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Scotiabank reduced their price objective on shares of TC Energy from C$68.00 to C$62.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. CIBC boosted their price objective on shares of TC Energy from C$56.00 to C$59.00 in a research note on Monday, July 15th. Jefferies Financial Group boosted their price objective on shares of TC Energy from C$52.00 to C$57.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, BMO Capital Markets boosted their price objective on shares of TC Energy from C$55.00 to C$57.00 in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, TC Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of C$56.73.

TC Energy Trading Down 0.1 %

TSE:TRP opened at C$59.21 on Monday. TC Energy has a one year low of C$44.70 and a one year high of C$59.98. 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 firm has a market cap of C$61.58 billion, a P/E ratio of 22.75, a P/E/G ratio of 0.26 and a beta of 0.74. The firm has a 50-day simple moving average of C$54.11 and a 200-day simple moving average of C$53.00.

Insider Activity

In other news, Director Richard Prior sold 5,000 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of C$40.00, for a total value of C$200,000.00. In other news, Director Richard Prior sold 5,000 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of C$40.00, for a total value of C$200,000.00. Also, Senior Officer Christine R. Johnston sold 1,330 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of C$53.15, for a total transaction of C$70,689.50. Following the sale, the insider now directly owns 466 shares in the company, valued at C$24,767.90. Insiders have sold 7,176 shares of company stock valued at $317,737 in the last ninety days. Insiders own 0.04% of the company’s stock.

TC Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 6.49%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is currently 147.69%.

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.