TC Energy Heats Up: Q4 Sizzles, Dividend Boosted
Portfolio Pulse from Lekha Gupta
TC Energy Corp (NYSE:TRP) reported Q4 results surpassing estimates with adjusted EPS of $0.99 against a consensus of $0.83, and sales of $3.11 billion over the expected $3.03 billion. The company saw significant improvements in segmented earnings and comparable EBITDA, with notable growth in U.S. and Canadian Natural Gas Pipelines. TC Energy also announced a 3.2% increase in its quarterly dividend to C$0.96 per share and maintains a positive FY24 outlook, expecting comparable EBITDA between C$11.2 billion to C$11.5 billion. Shares rose 2.02% to $39.38.
February 16, 2024 | 4:33 pm
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POSITIVE IMPACT
TC Energy Corp reported higher than expected Q4 earnings and sales, increased its quarterly dividend, and provided a positive FY24 outlook.
The positive earnings report, sales exceeding estimates, and dividend increase are likely to instill investor confidence and drive short-term positive sentiment towards TRP shares. The company's optimistic FY24 outlook further supports the potential for continued growth, making it an attractive asset for investors.
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RELEVANCE 100