Q2 2024 Earnings Forecast for TC Energy Co. Issued By Zacks Research (TSE:TRP)

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Investment analysts at Zacks Research lowered their Q2 2024 EPS estimates for TC Energy in a research note issued on Wednesday, April 24th. Zacks Research analyst T. Saha now forecasts that the company will earn $1.59 per share for the quarter, down from their previous forecast of $1.60. 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 Q4 2024 earnings at $1.01 EPS, Q1 2025 earnings at $1.17 EPS, Q3 2025 earnings at $0.46 EPS, Q4 2025 earnings at $0.95 EPS, FY2025 earnings at $4.20 EPS, Q1 2026 earnings at $1.18 EPS and FY2026 earnings at $4.42 EPS.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings results on Friday, February 16th. The company reported C$1.35 earnings per share (EPS) for the quarter, topping 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 firm had revenue of C$4.24 billion during the quarter, compared to analyst estimates of C$3.94 billion.

Several other analysts have also weighed in on the stock. TD Securities raised their price objective on shares of 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. raised their price objective on shares of TC Energy from C$58.00 to C$59.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Stifel Nicolaus set a C$61.00 price objective on shares of TC Energy and gave the stock a “buy” rating in a report on Thursday, January 18th. Scotiabank raised their price objective on shares of TC Energy from C$55.00 to C$58.00 and gave the stock 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$54.94.

TC Energy Stock Performance

TSE:TRP opened at C$49.17 on Thursday. The firm has a market capitalization of C$51.14 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 0.26 and a beta of 0.73. The firm has a 50-day moving average price of C$52.88 and a 200 day moving average price of C$51.55. The company has a quick ratio of 0.40, a current ratio of 0.96 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.

Insider Buying and Selling at TC Energy

In other TC Energy 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 value of C$136,593.16. Following the transaction, the director now directly owns -29 shares of the company’s stock, valued at C($1,575.66). In other TC Energy 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 value of C$136,593.16. Following the transaction, the director now directly owns -29 shares of the company’s stock, valued at C($1,575.66). Also, Senior Officer Dawn Elizabeth De Lima acquired 2,600 shares of TC Energy stock in a transaction on Monday, March 25th. The stock was acquired at an average cost of C$55.04 per share, for a total transaction of C$143,104.00. Over the last ninety days, insiders have acquired 4,526 shares of company stock valued at $248,609. 0.04% of the stock is currently owned by insiders.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a $0.96 dividend. 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. This represents a $3.84 dividend on an annualized basis and a yield of 7.81%. TC Energy’s dividend payout ratio (DPR) is presently 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.