TC Energy Co. (TSE:TRP) Forecasted to Post Q2 2024 Earnings of $0.90 Per Share

TC Energy Co. (TSE:TRP) (NYSE:TRP) – Investment analysts at US Capital Advisors decreased their Q2 2024 earnings per share estimates for shares of TC Energy in a research note issued to investors on Monday, July 29th. US Capital Advisors analyst J. Carreker now anticipates that the company will earn $0.90 per share for the quarter, down from their previous estimate of $0.92. The consensus estimate for TC Energy’s current full-year earnings is $4.19 per share. US Capital Advisors also issued estimates for TC Energy’s FY2024 earnings at $4.17 EPS.

TRP has been the subject of several other reports. Wells Fargo & Company increased their price target on TC Energy from C$59.00 to C$64.00 in a report on Tuesday, June 4th. Jefferies Financial Group raised their target price on TC Energy from C$52.00 to C$57.00 and gave the company a “hold” rating in a research note on Monday. JPMorgan Chase & Co. raised their target price on TC Energy from C$58.00 to C$59.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. ATB Capital raised their target price on TC Energy from C$54.00 to C$56.00 in a research note on Wednesday, July 24th. Finally, CIBC raised their target price on TC Energy from C$56.00 to C$59.00 in a research note on Monday, July 15th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$56.29.

TC Energy Stock Up 1.9 %

Shares of TSE TRP opened at C$59.71 on Wednesday. TC Energy has a 12-month low of C$44.70 and a 12-month high of C$59.98. The company has a market cap of C$62.10 billion, a P/E ratio of 22.97, a P/E/G ratio of 0.26 and a beta of 0.74. The company has a current ratio of 0.94, a quick ratio of 0.40 and a debt-to-equity ratio of 163.01. The stock has a fifty day moving average price of C$53.84 and a 200 day moving average price of C$52.91.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings results on Friday, May 3rd. The company reported C$1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.14 by C$0.10. TC Energy had a return on equity of 8.37% and a net margin of 17.31%. The firm had revenue of C$4.24 billion during the quarter, compared to the consensus estimate of C$4.26 billion.

Insider Transactions at TC Energy

In other news, Senior Officer Christine R. Johnston sold 1,330 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of C$53.15, for a total transaction of C$70,689.50. Following the transaction, the insider now owns 466 shares of the company’s stock, valued at C$24,767.90. In other TC Energy news, Director Richard Prior sold 5,000 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of C$40.00, for a total value of C$200,000.00. Also, Senior Officer Christine R. Johnston sold 1,330 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of C$53.15, for a total transaction of C$70,689.50. Following the completion of the transaction, the insider now directly owns 466 shares in the company, valued at approximately C$24,767.90. Over the last 90 days, insiders have sold 6,876 shares of company stock valued at $299,917. Insiders own 0.04% 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.