TC Energy Co. (TSE:TRP) to Post Q1 2024 Earnings of $1.13 Per Share, National Bank Financial Forecasts

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

Several other equities analysts have also issued reports on TRP. Stifel Nicolaus set a C$61.00 price target on shares of TC Energy and gave the stock a “buy” rating in a report on Thursday, January 18th. Royal Bank of Canada cut their price target on shares of TC Energy from C$54.00 to C$49.00 and set an “outperform” rating on the stock in a report on Tuesday, February 20th. Barclays boosted their price objective on shares of TC Energy from C$53.00 to C$55.00 in a report on Monday, January 29th. Scotiabank boosted their price objective on shares of TC Energy from C$55.00 to C$58.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Finally, Jefferies Financial Group dropped their price objective on shares of TC Energy from C$57.00 to C$51.00 in a report on Wednesday, April 17th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$54.44.

TC Energy Price Performance

TSE TRP opened at C$49.30 on Thursday. The firm’s fifty day simple moving average is C$52.75 and its two-hundred day simple moving average is C$51.56. The company has a current ratio of 0.96, a quick ratio of 0.40 and a debt-to-equity ratio of 163.32. TC Energy has a 12-month low of C$43.70 and a 12-month high of C$56.98. The firm has a market capitalization of C$51.27 billion, a P/E ratio of 17.93, a P/E/G ratio of 0.26 and a beta of 0.73.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings data 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. The company had revenue of C$4.24 billion for the quarter, compared to analyst estimates of C$3.94 billion. TC Energy had a net margin of 18.34% and a return on equity of 8.39%.

Insider Activity at TC Energy

In other news, Senior Officer Dawn Elizabeth De Lima acquired 2,600 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was acquired at an average price of C$55.04 per share, for a total transaction of C$143,104.00. In related news, Director Alexis A.J. Hudy purchased 875 shares of TC Energy stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average price of C$54.97 per share, for a total transaction of C$48,098.75. Following the transaction, the director now directly owns 875 shares in the company, valued at C$48,098.75. Also, Senior Officer Dawn Elizabeth De Lima purchased 2,600 shares of TC Energy stock in a transaction that occurred on Monday, March 25th. The shares were bought at an average price of C$55.04 per share, with a total value of C$143,104.00. Insiders acquired 4,526 shares of company stock worth $248,609 over the last three months. Company insiders own 0.04% of the company’s stock.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from TC Energy’s previous quarterly dividend of $0.93. This represents a $3.84 dividend on an annualized basis and a yield of 7.79%. TC Energy’s payout ratio is currently 139.64%.

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.