National Bank Financial Estimates TC Energy FY2024 Earnings

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Investment analysts at National Bank Financial upped their FY2024 EPS estimates for TC Energy in a research note issued on Monday, January 6th. National Bank Financial analyst P. Kenny now forecasts that the company will post earnings per share of $4.15 for the year, up from their prior forecast of $4.12. The consensus estimate for TC Energy’s current full-year earnings is $3.55 per share. National Bank Financial also issued estimates for TC Energy’s FY2025 earnings at $4.06 EPS and FY2028 earnings at $4.74 EPS.

TRP has been the subject of several other research reports. BMO Capital Markets lifted their price objective on shares of TC Energy from C$70.00 to C$73.00 in a research note on Friday, November 29th. ATB Capital lifted their price target on shares of TC Energy from C$64.00 to C$65.00 in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their target price on TC Energy from C$70.00 to C$79.00 in a research note on Monday, November 18th. Morgan Joseph raised TC Energy from an “underweight” rating to an “overweight” rating and upped their price target for the stock from C$62.00 to C$78.00 in a research note on Friday, October 25th. Finally, UBS Group raised TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Two equities 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$69.77.

TC Energy Trading Up 1.0 %

Shares of TRP stock opened at C$68.57 on Wednesday. TC Energy has a fifty-two week low of C$43.83 and a fifty-two week high of C$70.32. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76. The stock has a 50 day simple moving average of C$67.35 and a two-hundred day simple moving average of C$62.14. The company has a market cap of C$71.31 billion, a P/E ratio of 20.72, a PEG ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings data 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 return on equity of 10.68% and a net margin of 21.38%. The firm had revenue of C$4.08 billion during the quarter, compared to analyst estimates of C$3.90 billion.

Insider Buying and Selling

In other TC Energy news, Director Alexander (Alex) Oehler acquired 6,540 shares of the business’s stock in a transaction on Monday, December 30th. The shares were acquired at an average price of C$66.05 per share, with a total value of C$431,947.64. Also, Director Trevor Ebl sold 9,554 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of C$68.48, for a total value of C$654,219.70. Over the last ninety days, insiders have sold 420,911 shares of company stock worth $28,259,105. 0.03% of the stock is owned by insiders.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $1.113 per share. 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 dividend yield of 6.49%. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is presently 116.01%.

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.