FY2024 EPS Estimates for TC Energy Co. Reduced by Zacks Research (TSE:TRP)

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Zacks Research reduced their FY2024 earnings estimates for TC Energy in a research note issued on Wednesday, April 24th. Zacks Research analyst T. Saha now expects that the company will earn $4.37 per share for the year, down from their previous forecast of $4.40. The consensus estimate for TC Energy’s current full-year earnings is $4.18 per share. Zacks Research also issued estimates for TC Energy’s Q2 2025 earnings at $1.62 EPS.

A number of other brokerages have also recently issued reports on TRP. Scotiabank increased their target price on TC Energy from C$55.00 to C$58.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Stifel Nicolaus set a C$61.00 target price on TC Energy and gave the stock a “buy” rating in a report on Thursday, January 18th. ATB Capital set a C$54.00 price objective on TC Energy and gave the company a “sector perform” rating in a research report on Friday, January 5th. JPMorgan Chase & Co. increased their price target on TC Energy from C$58.00 to C$59.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Finally, Barclays increased their price target on TC Energy from C$53.00 to C$55.00 in a research note on Monday, January 29th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$54.44.

TC Energy Price Performance

TC Energy stock opened at C$49.30 on Friday. The stock has a market capitalization of C$51.27 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 0.26 and a beta of 0.73. TC Energy has a 52-week low of C$43.70 and a 52-week high of C$56.98. The stock’s 50 day moving average price is C$52.75 and its two-hundred day moving average price is C$51.56. The company has a debt-to-equity ratio of 163.32, a quick ratio of 0.40 and a current ratio of 0.96.

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

Insider Buying and Selling at TC Energy

In other TC Energy news, Senior Officer Dawn Elizabeth De Lima acquired 2,600 shares of TC Energy stock in a transaction dated Monday, March 25th. The stock was bought at an average price of C$55.04 per share, for a total transaction of C$143,104.00. In related news, Director Kevin B. Engel sold 2,514 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of C$54.33, for a total transaction of C$136,593.16. Following the completion of the sale, the director now directly owns -29 shares in the company, valued at C($1,575.66). Also, Senior Officer Dawn Elizabeth De Lima acquired 2,600 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average cost of C$55.04 per share, for a total transaction of C$143,104.00. In the last 90 days, insiders have purchased 4,526 shares of company stock valued at $248,609. Company insiders own 0.04% of the company’s stock.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors 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 7.79%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from TC Energy’s previous quarterly dividend of $0.93. TC Energy’s dividend payout ratio (DPR) is 139.64%.

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.