Analysts Issue Forecasts for TC Energy Co.’s Q2 2023 Earnings (TSE:TRP)

Posted by Defense World Staff on Jul 31st, 2023

TC Energy Co. (TSE:TRP – Free Report) (NYSE:TRP) – Analysts at Zacks Research issued their Q2 2023 earnings per share estimates for TC Energy in a report issued on Thursday, July 27th. Zacks Research analyst T. Saha forecasts that the company will earn $0.84 per share for the quarter. The consensus estimate for TC Energy’s current full-year earnings is $4.31 per share. Zacks Research also issued estimates for TC Energy’s Q3 2023 earnings at $0.86 EPS, Q4 2023 earnings at $1.10 EPS, FY2023 earnings at $3.97 EPS, Q1 2024 earnings at $1.04 EPS, Q2 2024 earnings at $0.87 EPS, Q3 2024 earnings at $0.91 EPS, Q4 2024 earnings at $1.07 EPS, FY2024 earnings at $3.91 EPS, Q1 2025 earnings at $0.98 EPS, Q2 2025 earnings at $0.92 EPS and FY2025 earnings at $4.02 EPS.

Several other brokerages also recently issued reports on TRP. TD Securities lowered TC Energy from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$62.00 to C$50.00 in a research report on Friday. National Bank Financial dropped their target price on shares of TC Energy from C$54.00 to C$53.00 in a report on Tuesday, July 25th. Credit Suisse Group lifted their price target on shares of TC Energy from C$59.50 to C$60.00 in a research note on Tuesday, May 16th. UBS Group increased their price objective on shares of TC Energy from C$59.00 to C$60.00 in a research report on Monday, May 1st. Finally, National Bankshares raised shares of TC Energy from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$53.00 to C$54.00 in a research report on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$58.72.

TC Energy Stock Performance

Shares of TSE:TRP opened at C$45.25 on Monday. The firm’s 50 day simple moving average is C$52.82 and its 200 day simple moving average is C$54.43. TC Energy has a fifty-two week low of C$43.70 and a fifty-two week high of C$69.80. The company has a market capitalization of C$45.25 billion, a price-to-earnings ratio of 28.82, a P/E/G ratio of 0.78 and a beta of 0.88. The company has a debt-to-equity ratio of 183.26, a current ratio of 0.74 and a quick ratio of 0.40.

TC Energy (TSE:TRP – Get Free Report) (NYSE:TRP) last released its quarterly earnings data on Friday, April 28th. The company reported C$1.21 EPS for the quarter, beating analysts’ consensus estimates of C$1.20 by C$0.01. TC Energy had a return on equity of 5.11% and a net margin of 11.00%. The business had revenue of C$3.93 billion during the quarter, compared to the consensus estimate of C$3.69 billion.

TC Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.72 annualized dividend and a yield of 8.22%. TC Energy’s dividend payout ratio is currently 236.94%.

TC Energy Company Profile

(Get Free Report)

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 93,700 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.