National Bank Financial Comments on TC Energy Q3 Earnings

TC Energy Co. (TSE:TRP) (NYSE:TRP) – National Bank Financial issued their Q3 2024 earnings per share estimates for shares of TC Energy in a note issued to investors on Wednesday, October 23rd. National Bank Financial analyst P. Kenny forecasts that the company will earn $1.01 per share for the quarter. The consensus estimate for TC Energy’s current full-year earnings is $3.55 per share.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share 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 business had revenue of C$4.09 billion for the quarter, compared to the consensus estimate of C$3.78 billion.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada boosted their price objective on TC Energy from C$66.00 to C$67.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. BMO Capital Markets lowered their target price on shares of TC Energy from C$65.00 to C$55.00 and set a “market perform” rating for the company in a research note on Wednesday, October 2nd. Scotiabank reduced their price target on shares of TC Energy from C$62.00 to C$61.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. Jefferies Financial Group boosted their price objective on shares of TC Energy from C$57.00 to C$66.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. reduced their target price on shares of TC Energy from C$66.00 to C$60.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. Two 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 MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$61.92.

TC Energy Stock Up 0.9 %

Shares of TSE TRP opened at C$65.68 on Friday. TC Energy has a 1 year low of C$42.45 and a 1 year high of C$66.70. The firm has a 50-day simple moving average of C$62.62 and a two-hundred day simple moving average of C$56.49. The company has a market cap of C$68.31 billion, a P/E ratio of 19.84, a PEG ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40.

TC Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date is Friday, September 27th. TC Energy’s payout ratio is currently 116.01%.

Insider Buying and Selling at TC Energy

In other news, Director Jawad Masud sold 6,041 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of C$63.50, for a total value of C$383,603.50. In other news, Director Jawad Masud sold 6,041 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of C$63.50, for a total transaction of C$383,603.50. Also, Director Colin Lindley sold 2,773 shares of the business’s stock in a transaction 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 transaction, the director now owns 697 shares in the company, valued at approximately C$41,413.16. This trade represents a 0.00 % decrease in their ownership of the stock. Insiders have sold 95,479 shares of company stock worth $5,860,018 over the last quarter. Insiders own 0.03% of the company’s stock.

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.