TC Energy FY2024 EPS Forecast Raised by US Capital Advisors

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Research analysts at US Capital Advisors lifted their FY2024 earnings estimates for shares of TC Energy in a research report issued on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now anticipates that the company will earn $4.39 per share for the year, up from their previous estimate of $4.04. 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 $0.90 EPS, Q1 2025 earnings at $0.94 EPS, Q2 2025 earnings at $0.75 EPS, Q3 2025 earnings at $0.87 EPS, Q4 2025 earnings at $0.90 EPS, FY2025 earnings at $3.47 EPS and FY2026 earnings at $3.34 EPS.

A number of other analysts have also recently commented on the company. ATB Capital upped their price objective on TC Energy from C$64.00 to C$65.00 in a research report on Friday, November 8th. BMO Capital Markets upped their price target on shares of TC Energy from C$70.00 to C$73.00 in a research report on Friday. National Bankshares raised their price objective on shares of TC Energy from C$70.00 to C$71.00 in a report on Wednesday, November 20th. Scotiabank boosted their target price on shares of TC Energy from C$74.00 to C$75.00 in a research report on Wednesday, November 20th. Finally, UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$69.77.

TC Energy Price Performance

The company has a market cap of C$70.99 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. TC Energy has a twelve month low of C$43.83 and a twelve month high of C$70.32. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. The company’s fifty day moving average price is C$65.42 and its two-hundred day moving average price is C$59.50.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of C$3.90 billion.

Insider Buying and Selling

In other news, Director Lindsay Mackay sold 3,520 shares of TC Energy stock in a transaction dated Monday, November 18th. The stock was sold at an average price of C$70.00, for a total value of C$246,400.00. Also, Director David Brast sold 6,743 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of C$69.01, for a total value of C$465,353.98. In the last three months, insiders have sold 207,976 shares of company stock valued at $13,899,631. Corporate insiders own 0.03% of the company’s stock.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $1.113 per share. This represents a $4.45 annualized dividend and a yield of ∞. The ex-dividend date is Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.96. TC Energy’s dividend payout ratio (DPR) is 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.