FY2024 EPS Estimates for TC Energy Co. (TSE:TRP) Decreased by Analyst

by · The Markets Daily

TC Energy Co. (TSE:TRP – Free Report) (NYSE:TRP) – Stock analysts at National Bank Financial decreased their FY2024 earnings per share estimates for TC Energy in a research note issued on Wednesday, October 2nd. National Bank Financial analyst P. Kenny now expects that the company will post earnings of $4.10 per share for the year, down from their prior estimate of $4.22. The consensus estimate for TC Energy’s current full-year earnings is $4.42 per share.

TC Energy (TSE:TRP – Get Free Report) (NYSE:TRP) last posted its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.89 by C$0.05. The company had revenue of C$4.09 billion during the quarter, compared to analyst estimates of C$3.78 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%.

A number of other analysts have also recently commented on the company. National Bankshares cut their price objective on TC Energy from C$65.00 to C$60.00 and set an “outperform” rating for the company in a research report on Thursday, October 3rd. ATB Capital dropped their target price on TC Energy from C$60.00 to C$58.00 and set a “sector perform” rating for the company in a research report on Thursday, October 3rd. Barclays lifted their target price on TC Energy from C$61.00 to C$64.00 in a report on Monday, August 19th. Jefferies Financial Group upped their price objective on TC Energy from C$57.00 to C$66.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Finally, Scotiabank decreased their target price on TC Energy from C$62.00 to C$61.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, TC Energy presently has a consensus rating of “Moderate Buy” and an average target price of C$59.31.

Get Our Latest Stock Report on TC Energy

TC Energy Trading Down 0.3 %

TC Energy stock opened at C$60.95 on Monday. The firm has a market cap of C$63.39 billion, a PE ratio of 18.39, a P/E/G ratio of 0.26 and a beta of 0.82. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84. The stock’s 50 day simple moving average is C$61.47 and its two-hundred day simple moving average is C$55.69. TC Energy has a 12 month low of C$45.96 and a 12 month high of C$65.39.

Insiders Place Their Bets

In other news, Senior Officer Christine R. Johnston sold 16,292 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of C$59.71, for a total value of C$972,795.32. Following the transaction, the insider now directly owns 466 shares in the company, valued at C$27,824.86. This trade represents a 0.00 % decrease in their position. In related news, Senior Officer Christine R. Johnston sold 16,292 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of C$59.71, for a total value of C$972,795.32. Following the completion of the transaction, the insider now owns 466 shares of the company’s stock, valued at approximately C$27,824.86. This represents a 0.00 % decrease in their ownership of the stock. Also, Senior Officer Dawn Elizabeth De Lima acquired 545 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were acquired at an average price of C$63.06 per share, for a total transaction of C$34,367.70. In the last ninety days, insiders have sold 95,479 shares of company stock valued at $5,860,018. Insiders own 0.04% of the company’s stock.

TC Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a $0.96 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.84 annualized dividend and a yield of 6.30%. TC Energy’s payout ratio is currently 116.01%.

About TC Energy

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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.

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