FY2024 EPS Estimates for TC Energy Raised by Atb Cap Markets

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Investment analysts at Atb Cap Markets upped their FY2024 EPS estimates for shares of TC Energy in a note issued to investors on Tuesday, November 19th. Atb Cap Markets analyst N. Heywood now expects that the company will post earnings of $4.08 per share for the year, up from their previous estimate of $4.07. 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 Q4 2025 earnings at $1.12 EPS, FY2025 earnings at $3.92 EPS and FY2026 earnings at $4.10 EPS.

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

A number of other equities research analysts also recently weighed in on TRP. Jefferies Financial Group raised their price target on TC Energy from C$64.00 to C$65.00 in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of TC Energy from C$70.00 to C$79.00 in a research note on Monday, November 18th. Wells Fargo & Company increased their price target on shares of TC Energy from C$74.00 to C$76.00 in a research note on Wednesday. CIBC upped their price objective on shares of TC Energy from C$67.00 to C$68.00 in a report on Wednesday. Finally, Morgan Joseph upgraded TC Energy from an “underweight” rating to an “overweight” rating and raised their target price for the company from C$62.00 to C$78.00 in a report on Friday, October 25th. 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of C$69.54.

TC Energy Price Performance

TRP opened at C$69.65 on Thursday. The stock has a fifty day moving average price of C$65.01 and a 200 day moving average price of C$59.04. 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 1 year low of C$43.83 and a 1 year high of C$70.32. The stock has a market cap of C$72.44 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 1.69 and a beta of 0.82.

Insider Transactions at TC Energy

In related news, Director Mark Yeomans sold 6,500 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of C$61.58, for a total value of C$400,297.95. Also, Senior Officer Francois Lionel Poirier sold 118,243 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of C$68.38, for a total value of C$8,085,219.85. Insiders sold a total of 214,476 shares of company stock worth $14,299,929 over the last three months. 0.03% of the stock is currently owned by insiders.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $1.113 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.96. This represents a $4.45 annualized dividend and a yield of 6.39%. The ex-dividend date is Tuesday, December 31st. TC Energy’s 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.