TC Energy Co. (TSE:TRP) Expected to Earn Q1 2024 Earnings of $1.13 Per Share

TC Energy Co. (TSE:TRP) (NYSE:TRP) – National Bank Financial issued their Q1 2024 earnings estimates for TC Energy in a report released on Tuesday, April 23rd. National Bank Financial analyst P. Kenny expects that the company will earn $1.13 per share for the quarter. The consensus estimate for TC Energy’s current full-year earnings is $4.18 per share.

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

Several other research analysts have also recently issued reports on TRP. National Bankshares lifted their target price on shares of TC Energy from C$54.00 to C$58.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. TD Securities boosted their price target on TC Energy from C$50.00 to C$51.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. increased their target price on TC Energy from C$58.00 to C$59.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Scotiabank upped their price objective on TC Energy from C$55.00 to C$58.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Finally, Barclays raised their price target on TC Energy from C$53.00 to C$55.00 in a research note on Monday, January 29th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$54.44.

TC Energy Stock Up 0.3 %

TSE:TRP opened at C$49.33 on Thursday. TC Energy has a 1-year low of C$43.70 and a 1-year high of C$56.98. The firm’s 50-day moving average price is C$52.83 and its 200-day moving average price is C$51.53. The company has a market capitalization of C$51.30 billion, a PE ratio of 17.94, a P/E/G ratio of 0.26 and a beta of 0.73. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 7.78%. 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 presently 139.64%.

Insider Activity

In other TC Energy news, Senior Officer Dawn Elizabeth De Lima bought 2,600 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were acquired at an average cost of C$55.04 per share, with a total value of C$143,104.00. In other news, Director Alexis A.J. Hudy purchased 875 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was acquired 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 directly owns 875 shares in the company, valued at approximately C$48,098.75. Also, Senior Officer Dawn Elizabeth De Lima purchased 2,600 shares of TC Energy stock in a transaction dated Monday, March 25th. The shares were purchased at an average cost of C$55.04 per share, for a total transaction of C$143,104.00. Insiders have bought a total of 4,526 shares of company stock worth $248,609 over the last quarter. 0.04% of the stock is currently owned by corporate insiders.

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.