US Capital Advisors Comments on TC Energy FY2024 Earnings

TC Energy Co. (TSE:TRP - Free Report) NYSE: TRP - Investment analysts at US Capital Advisors dropped their FY2024 EPS estimates for TC Energy in a research note issued to investors on Monday, October 28th. US Capital Advisors analyst J. Carreker now expects that the company will post earnings of $4.04 per share for the year, down from their previous estimate of $4.12. The consensus estimate for TC Energy's current full-year earnings is $3.55 per share. US Capital Advisors also issued estimates for TC Energy's Q4 2024 earnings at $0.88 EPS.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, beating 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.

A number of other brokerages have also recently weighed in on TRP. Morgan Joseph upgraded shares of TC Energy from an "underweight" rating to an "overweight" rating and lifted their price objective for the company from C$62.00 to C$78.00 in a research note on Friday. Veritas upgraded shares of TC Energy to a "strong sell" rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. cut their price objective on shares of TC Energy from C$66.00 to C$60.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 8th. Barclays boosted their price target on shares of TC Energy from C$66.00 to C$67.00 in a research report on Monday, October 21st. Finally, Jefferies Financial Group boosted their price target on shares of TC Energy from C$57.00 to C$66.00 and gave the stock a "hold" rating in a research report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, TC Energy has an average rating of "Hold" and a consensus price target of C$61.92.

TC Energy Stock Performance

Shares of TRP traded down C$0.53 during midday trading on Tuesday, hitting C$64.48. 1,878,039 shares of the stock traded hands, compared to its average volume of 7,177,518. TC Energy has a 1-year low of C$42.45 and a 1-year high of C$66.70. The firm has a market capitalization of C$67.06 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. 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 business's 50 day moving average price is C$62.84 and its two-hundred day moving average price is C$56.67.

Insider Buying and Selling at TC Energy

In other news, Director Colin Lindley sold 2,773 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of C$59.42, for a total value of C$164,761.40. Following the completion of the sale, the director now directly owns 697 shares of the company's stock, valued at approximately C$41,413.16. This represents a 0.00 % decrease in their ownership of the stock. In other news, Director Richard Prior sold 3,000 shares of the 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. Also, Director Colin Lindley sold 2,773 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of C$59.42, for a total value of C$164,761.40. Following the completion of the sale, the director now directly owns 697 shares of the company's stock, valued at C$41,413.16. This represents a 0.00 % decrease in their ownership of the stock. Insiders have sold a total of 95,479 shares of company stock worth $5,860,018 over the last 90 days. Insiders own 0.03% of the company's stock.

TC Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a dividend of $0.96 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.84 annualized dividend and a yield of 5.96%. TC Energy's dividend payout ratio (DPR) is presently 116.01%.

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.