Impressive Q4 Results

TC Energy Corp TRP has exceeded expectations with its fourth-quarter results. The company reported adjusted EPS of $0.99, surpassing the consensus of $0.83, while sales of $3.11 billion outperformed the estimate of $3.03 billion. Segmented earnings improved to C$2.3 billion from a loss of C$(1.0) billion a year ago. Comparatively, the company’s comparable EBITDA rose to C$3.1 billion from C$2.7 billion. This impressive performance is a strong indicator of the company’s financial health and stability.

Optimistic FY24 Outlook

Looking ahead, TC Energy expects comparable EBITDA of C$11.2 billion to C$11.5 billion for the fiscal year 2024. This outlook signals growth, stemming from increased comparable EBITDA from the NGTL System, expansion programs, and the full-year impact of projects placed in service in 2023, along with anticipated projects set to commence this year.

Enhanced Dividend

TC Energy’s Board of Directors has approved a 3.2% increase in the quarterly dividend per share to C$0.96 for the quarter ending March 31, 2024. Payable on April 30, 2024, to shareholders of record as of March 28, 2024, this enhanced dividend signifies a robust financial position and a commitment to delivering value to its shareholders.

Positive Price Action

Demonstrating investor confidence, TRP shares are up 2.02% at $39.38 at the recent check on Friday. This positive price action reflects the market’s optimism about TC Energy’s current and future performance.