FY2024 Earnings Estimate for TC Energy Issued By Scotiabank

TC Energy Co. (TSE:TRP - Free Report) NYSE: TRP - Analysts at Scotiabank decreased their FY2024 earnings per share estimates for shares of TC Energy in a report issued on Wednesday, January 8th. Scotiabank analyst R. Hope now expects that the company will post earnings of $4.24 per share for the year, down from their prior forecast of $4.36. The consensus estimate for TC Energy's current full-year earnings is $3.55 per share. Scotiabank also issued estimates for TC Energy's FY2025 earnings at $3.73 EPS.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last posted its earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, topping analysts' consensus estimates of C$0.97 by C$0.06. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The firm had revenue of C$4.08 billion for the quarter, compared to the consensus estimate of C$3.90 billion.

TRP has been the topic of a number of other research reports. CIBC upped their target price on TC Energy from C$68.00 to C$70.00 and gave the company a "neutral" rating in a research note on Thursday. National Bankshares increased their target price on TC Energy from C$70.00 to C$71.00 in a research note on Wednesday, November 20th. Morgan Joseph raised shares of TC Energy from an "underweight" rating to an "overweight" rating and raised their price target for the stock from C$62.00 to C$78.00 in a research note on Friday, October 25th. Wells Fargo & Company upped their target price on shares of TC Energy from C$74.00 to C$76.00 in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. boosted their price target on TC Energy from C$70.00 to C$79.00 in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of C$69.92.

TC Energy Trading Down 1.5 %

TSE:TRP traded down C$0.99 during midday trading on Monday, hitting C$66.32. 988,407 shares of the company traded hands, compared to its average volume of 5,378,734. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84. TC Energy has a 12-month low of C$43.83 and a 12-month high of C$70.32. The firm has a market capitalization of C$68.97 billion, a P/E ratio of 20.04, a P/E/G ratio of 1.69 and a beta of 0.82. The firm's fifty day moving average is C$67.57 and its 200-day moving average is C$62.47.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.113 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $4.45 annualized dividend and a dividend yield of 6.71%. This is an increase from TC Energy's previous quarterly dividend of $0.96. TC Energy's dividend payout ratio is 116.01%.

Insider Activity at TC Energy

In other news, Senior Officer Nancy Angenita Johnson sold 3,328 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of C$67.75, for a total transaction of C$225,472.00. Also, Director Trevor Ebl sold 9,554 shares of the business's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of C$68.48, for a total value of C$654,219.70. Insiders sold 420,911 shares of company stock valued at $28,259,105 in the last three months. 0.03% of the stock is owned by 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.