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

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Research analysts at Zacks Research cut their Q2 2024 EPS estimates for shares of TC Energy in a note issued to investors on Wednesday, April 24th. Zacks Research analyst T. Saha now anticipates that the company will post earnings of $1.59 per share for the quarter, down from their prior 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.

Several other equities analysts have also recently commented on the stock. CIBC boosted their target price on shares of TC Energy from C$54.00 to C$55.00 and gave the company a “neutral” rating in a research report on Monday, January 8th. JPMorgan Chase & Co. boosted their target price on shares of TC Energy from C$58.00 to C$59.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Royal Bank of Canada dropped their target price on shares of TC Energy from C$54.00 to C$49.00 and set an “outperform” rating for the company in a research report on Tuesday, February 20th. National Bankshares upped their price objective on shares of TC Energy from C$54.00 to C$58.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Finally, TD Securities upped 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 research report on Wednesday, February 21st. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$54.94.

TC Energy Price Performance

Shares of TSE:TRP opened at C$49.17 on Thursday. The firm has a 50 day moving average of C$52.88 and a 200-day moving average of C$51.55. The stock has a market capitalization of C$51.14 billion, a PE ratio of 17.88, a PEG ratio of 0.26 and a beta of 0.73. 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.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its earnings results on Friday, February 16th. The company reported C$1.35 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 during the quarter, compared to analysts’ expectations of C$3.94 billion. TC Energy had a net margin of 18.34% and a return on equity of 8.39%.

Insiders Place Their Bets

In other TC Energy news, Director Alexis A.J. Hudy bought 875 shares of TC Energy stock in a transaction on Monday, March 25th. The shares were purchased at an average cost of C$54.97 per share, with a total value of C$48,098.75. Following the acquisition, the director now directly owns 875 shares of the company’s stock, valued at approximately C$48,098.75. In other news, Senior Officer Dawn Elizabeth De Lima acquired 750 shares of TC Energy stock in a transaction dated Wednesday, March 20th. The shares were bought at an average cost of C$54.48 per share, with a total value of C$40,860.00. Also, Director Alexis A.J. Hudy acquired 875 shares of TC Energy stock in a transaction dated Monday, March 25th. The stock was purchased at an average cost of C$54.97 per share, for a total transaction of C$48,098.75. Following the completion of the purchase, the director now owns 875 shares in the company, valued at approximately C$48,098.75. Insiders have acquired 4,526 shares of company stock valued at $248,609 in the last ninety days. 0.04% of the stock is currently owned by insiders.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 7.81%. This is a positive change from TC Energy’s previous quarterly dividend of $0.93. The ex-dividend date is Wednesday, March 27th. TC Energy’s payout ratio is presently 139.64%.

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.