Q3 Earnings Forecast for TC Energy Issued By Atb Cap Markets

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Analysts at Atb Cap Markets lowered their Q3 2024 earnings estimates for shares of TC Energy in a note issued to investors on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now anticipates that the company will post earnings per share of $0.95 for the quarter, down from their previous forecast of $1.00. The consensus estimate for TC Energy’s current full-year earnings is $3.55 per share. Atb Cap Markets also issued estimates for TC Energy’s FY2024 earnings at $3.97 EPS.

TRP has been the subject of several other reports. ATB Capital reduced their price target 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. BMO Capital Markets cut their price objective on TC Energy from C$65.00 to C$55.00 and set a “market perform” rating for the company in a report on Wednesday, October 2nd. 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. JPMorgan Chase & Co. dropped their price target on shares of TC Energy from C$66.00 to C$60.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. Finally, Jefferies Financial Group lifted their price objective on shares of TC Energy from C$57.00 to C$66.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$60.58.

TC Energy Trading Down 0.9 %

TC Energy stock opened at C$64.95 on Thursday. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. The firm has a 50-day moving average of C$62.62 and a 200-day moving average of C$56.49. The company has a market cap of C$67.55 billion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 1.69 and a beta of 0.82. TC Energy has a one year low of C$42.25 and a one year high of C$66.70.

TC Energy (TSE:TRP) (NYSE:TRP) last released its earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of C$4.09 billion during the quarter, compared to the consensus estimate of C$3.78 billion.

Insider Activity

In related news, Director Jawad Masud sold 6,041 shares of TC Energy stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of C$63.50, for a total transaction of C$383,603.50. In other TC Energy news, Director Colin Lindley sold 2,773 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of C$59.42, for a total value of C$164,761.40. Following the completion of the sale, the director now owns 697 shares of the company’s stock, valued at C$41,413.16. The trade was a 0.00 % decrease in their position. Also, Director Jawad Masud sold 6,041 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of C$63.50, for a total transaction of C$383,603.50. Over the last quarter, insiders have sold 95,479 shares of company stock valued at $5,860,018. 0.03% of the stock is owned by insiders.

TC Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date is Friday, September 27th. TC Energy’s dividend payout ratio is presently 116.01%.

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.