Analysts Issue Forecasts for TC Energy Q3 Earnings

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Equities researchers at National Bank Financial issued their Q3 2024 earnings per share (EPS) estimates for shares of TC Energy in a report issued on Wednesday, October 23rd. National Bank Financial analyst P. Kenny expects that the company will post earnings per share of $1.01 for the quarter. The consensus estimate for TC Energy’s current full-year earnings is $3.55 per share.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, beating the consensus estimate of C$0.89 by C$0.05. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The company had revenue of C$4.09 billion for the quarter, compared to analyst estimates of C$3.78 billion.

A number of other brokerages have also commented on TRP. Barclays upped their price objective on TC Energy from C$66.00 to C$67.00 in a report on Monday, October 21st. UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Jefferies Financial Group lifted their price objective on shares of TC Energy from C$57.00 to C$66.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Morgan Joseph raised shares of TC Energy from an “underweight” rating to an “overweight” rating and boosted their price objective for the company from C$62.00 to C$78.00 in a report on Friday. Finally, Scotiabank lowered their target price on shares of TC Energy from C$62.00 to C$61.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$61.92.

TC Energy Trading Up 0.9 %

Shares of TRP stock opened at C$65.68 on Friday. TC Energy has a 12-month low of C$42.45 and a 12-month high of C$66.70. The firm has a 50 day moving average price of C$62.74 and a two-hundred day moving average price of C$56.58. 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 market capitalization of C$68.31 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82.

Insider Activity at TC Energy

In other TC Energy news, Director Richard Prior sold 18,068 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of C$63.00, for a total transaction of C$1,138,284.00. In related news, Director Colin Lindley sold 2,773 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of C$59.42, for a total transaction of C$164,761.40. Following the sale, the director now owns 697 shares in the company, valued at C$41,413.16. The trade was a 0.00 % decrease in their position. Also, Director Richard Prior sold 18,068 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of C$63.00, for a total value of C$1,138,284.00. Insiders have sold 95,479 shares of company stock valued at $5,860,018 over the last ninety days. 0.03% of the stock is owned by corporate insiders.

TC Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.84 annualized dividend and a dividend yield of 5.85%. TC Energy’s dividend payout ratio is currently 116.01%.

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.