Q3 Earnings Estimate for TC Energy Issued By Atb Cap Markets

TC Energy Co. (TSE:TRP - Free Report) NYSE: TRP - Research analysts at Atb Cap Markets reduced their Q3 2024 earnings per share (EPS) estimates for TC Energy in a report released on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now forecasts that the company will earn $0.95 per share for the quarter, down from their previous estimate 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.

A number of other research analysts also recently commented on the stock. UBS Group raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 30th. BMO Capital Markets lowered their price target on TC Energy from C$65.00 to C$55.00 and set a "market perform" rating on the stock in a research report on Wednesday, October 2nd. National Bankshares dropped their price objective on TC Energy from C$65.00 to C$60.00 and set an "outperform" rating on the stock in a research note on Thursday, October 3rd. CIBC reduced their target price on TC Energy from C$62.00 to C$57.00 and set a "negative" rating for the company in a research note on Wednesday, October 2nd. Finally, Scotiabank decreased their target price on 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. Two equities research 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 company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of C$60.58.

TC Energy Stock Performance

The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76. The stock's fifty day moving average price is C$62.62 and its two-hundred day moving average price is C$56.49. TC Energy has a fifty-two week low of C$42.45 and a fifty-two week high of C$66.70. The firm has a market capitalization of C$67.68 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C$0.89 by C$0.05. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. The company had revenue of C$4.09 billion for the quarter, compared to analysts' expectations of C$3.78 billion.

Insiders Place Their Bets

In related news, Director Richard Prior sold 3,000 shares of the business's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of C$44.00, for a total value of C$132,000.00. In other news, Director Rosemary K. Stevens sold 1,200 shares of the business's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of C$59.88, for a total value of C$71,856.00. Following the completion of the transaction, the director now directly owns 987 shares in the company, valued at approximately C$59,101.56. The trade was a 0.00 % decrease in their position. Also, Director Richard Prior sold 3,000 shares of the company's stock in a transaction that occurred on Friday, August 16th. The stock was 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 worth $5,860,018 in the last quarter. Corporate insiders own 0.03% of the company's stock.

TC Energy Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of ∞. The ex-dividend date is Friday, September 27th. TC Energy's dividend payout ratio is currently 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.