TC Energy FY2024 EPS Lifted by National Bank Financial

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Stock analysts at National Bank Financial upped their FY2024 earnings per share (EPS) estimates for TC Energy in a research note issued on Monday, January 6th. National Bank Financial analyst P. Kenny now anticipates that the company will post earnings per share of $4.15 for the year, up from their prior forecast of $4.12. The consensus estimate for TC Energy’s current full-year earnings is $3.55 per share. National Bank Financial also issued estimates for TC Energy’s FY2025 earnings at $4.06 EPS and FY2028 earnings at $4.74 EPS.

A number of other research analysts have also issued reports on the stock. Morgan Joseph upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from C$62.00 to C$78.00 in a research note on Friday, October 25th. Royal Bank of Canada boosted their target price on TC Energy from C$67.00 to C$71.00 in a research report on Friday, November 8th. Barclays raised their price target on TC Energy from C$67.00 to C$74.00 in a report on Wednesday, November 20th. JPMorgan Chase & Co. upped their price objective on TC Energy from C$70.00 to C$79.00 in a report on Monday, November 18th. Finally, ATB Capital raised their target price on TC Energy from C$64.00 to C$65.00 in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$69.92.

TC Energy Stock Performance

Shares of TRP opened at C$68.91 on Wednesday. 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 capitalization of C$71.67 billion, a P/E ratio of 20.82, a P/E/G 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 company’s fifty day moving average is C$67.52 and its two-hundred day moving average is C$62.23.

TC Energy (TSE:TRP) (NYSE:TRP) last released its earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) 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 business had revenue of C$4.08 billion for the quarter, compared to analyst estimates of C$3.90 billion.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.113 per share. 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 6.46%. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is 116.01%.

Insiders Place Their Bets

In related news, Director Alexander (Alex) Oehler purchased 6,540 shares of the company’s stock in a transaction on Monday, December 30th. The stock was bought at an average price of C$66.05 per share, with a total value of C$431,947.64. Also, Director Jawad Masud sold 5,000 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of C$66.50, for a total value of C$332,500.00. Over the last quarter, insiders sold 420,911 shares of company stock worth $28,259,105. 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.