FY2024 Earnings Forecast for TC Energy Co. (TSE:TRP) Issued By Atb Cap Markets

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Analysts at Atb Cap Markets decreased their FY2024 earnings estimates for TC Energy in a research note issued to investors on Wednesday, October 2nd. Atb Cap Markets analyst N. Heywood now forecasts that the company will earn $4.06 per share for the year, down from their previous estimate of $4.21. The consensus estimate for TC Energy’s current full-year earnings is $4.42 per share. Atb Cap Markets also issued estimates for TC Energy’s Q4 2024 earnings at $0.88 EPS, Q1 2025 earnings at $1.15 EPS, Q2 2025 earnings at $0.82 EPS and Q3 2025 earnings at $0.92 EPS.

TRP has been the subject of several other research reports. Barclays increased their target price on shares of TC Energy from C$61.00 to C$64.00 in a report on Monday, August 19th. National Bankshares cut their price target on shares of TC Energy from C$65.00 to C$60.00 and set an “outperform” rating for the company in a research note on Thursday. Jefferies Financial Group increased their price target on shares of TC Energy from C$57.00 to C$66.00 and gave the company a “hold” rating in a research note on Monday, September 30th. ATB Capital cut their price target on shares of TC Energy from C$60.00 to C$58.00 and set a “sector perform” rating for the company in a research note on Thursday. Finally, UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$59.23.

TC Energy Stock Performance

TC Energy has a 1-year low of C$44.70 and a 1-year high of C$65.39. The stock’s 50 day simple moving average is C$61.41 and its two-hundred day simple moving average is C$55.64. The firm has a market capitalization of C$63.67 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 0.26 and a beta of 0.82. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of C$4.09 billion during the quarter, compared to the consensus estimate of C$3.78 billion.

TC Energy Dividend Announcement

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

Insider Buying and Selling at TC Energy

In other TC Energy news, Director Jawad Masud sold 6,041 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of C$63.50, for a total value of C$383,603.50. In other news, Director Jawad Masud sold 6,041 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of C$63.50, for a total value of C$383,603.50. Also, Director Richard Prior sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of C$44.00, for a total transaction of C$132,000.00. Insiders have sold a total of 95,479 shares of company stock valued at $5,860,018 in the last ninety days. 0.04% of the stock is currently owned by company insiders.

TC Energy Company Profile

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.