Brokers Offer Predictions for TC Energy FY2024 Earnings

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Equities research analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of TC Energy in a research report issued on Wednesday, February 5th. Zacks Research analyst T. Saha now expects that the company will earn $4.09 per share for the year, up from their prior estimate of $4.06. The consensus estimate for TC Energy’s current full-year earnings is $3.55 per share. Zacks Research also issued estimates for TC Energy’s Q4 2024 earnings at $0.88 EPS, Q4 2025 earnings at $1.01 EPS and Q4 2026 earnings at $1.05 EPS.

Other analysts have also issued reports about the stock. TD Securities set a C$73.00 price target on shares of TC Energy and gave the company a “buy” rating in a research report on Wednesday, January 15th. National Bankshares increased their target price on shares of TC Energy from C$70.00 to C$71.00 in a research report on Wednesday, November 20th. Morgan Joseph upgraded shares of 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 research note on Friday, October 25th. ATB Capital upped their price target on TC Energy from C$64.00 to C$65.00 in a research report on Friday, November 8th. Finally, CIBC raised their price objective on TC Energy from C$68.00 to C$70.00 and gave the stock a “neutral” rating in a research report on Thursday, January 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$73.00.

TC Energy Trading Down 0.2 %

Shares of TSE TRP opened at C$67.28 on Friday. TC Energy has a 1-year low of C$43.83 and a 1-year high of C$70.32. The business has a fifty day moving average price of C$67.10 and a 200 day moving average price of C$64.21. The stock has a market capitalization of C$69.97 billion, a P/E ratio of 20.33, 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 current ratio of 0.76 and a quick ratio of 0.40.

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

Insider Activity

In related news, Director Alexander (Alex) Oehler purchased 6,540 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were purchased 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 dated Tuesday, December 24th. The stock was sold at an average price of C$66.50, for a total transaction of C$332,500.00. Insiders have sold 408,029 shares of company stock worth $27,379,414 in the last ninety days. Company insiders own 0.03% of the company’s stock.

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.