TC Energy Co. (NYSE:TRP) Increases Dividend to $0.61 Per Share

TC Energy Co. (NYSE:TRP) (TSE:TRP) declared a quarterly dividend on Thursday, October 29th, Zacks reports. Stockholders of record on Thursday, December 31st will be given a dividend of 0.608 per share by the pipeline company on Friday, January 29th. This represents a $2.43 annualized dividend and a dividend yield of 6.20%. The ex-dividend date of this dividend is Wednesday, December 30th. This is a positive change from TC Energy’s previous quarterly dividend of $0.61.

TC Energy has raised its dividend by 31.7% over the last three years. TC Energy has a payout ratio of 78.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect TC Energy to earn $3.15 per share next year, which means the company should continue to be able to cover its $2.42 annual dividend with an expected future payout ratio of 76.8%.

Shares of NYSE TRP traded down $0.45 during midday trading on Friday, hitting $39.22. The company’s stock had a trading volume of 49,313 shares, compared to its average volume of 1,825,033. The business’s fifty day simple moving average is $43.63 and its two-hundred day simple moving average is $44.92. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.58 and a quick ratio of 0.53. TC Energy has a 1 year low of $32.37 and a 1 year high of $57.92. The firm has a market capitalization of $37.29 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 3.44 and a beta of 0.68.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, October 29th. The pipeline company reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.26. TC Energy had a net margin of 33.69% and a return on equity of 13.73%. During the same period last year, the business earned $1.04 earnings per share. Analysts anticipate that TC Energy will post 3.04 EPS for the current fiscal year.

A number of research analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of TC Energy from $65.00 to $68.00 and gave the stock a “market perform” rating in a research note on Thursday, August 6th. ValuEngine downgraded shares of TC Energy from a “hold” rating to a “sell” rating in a research note on Thursday, October 1st. Zacks Investment Research upgraded shares of TC Energy from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Tuesday, July 7th. Wells Fargo & Company lifted their price target on shares of TC Energy from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, Raymond James assumed coverage on shares of TC Energy in a research note on Thursday, July 9th. They issued an “outperform” rating and a $75.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have issued a buy rating to the company’s stock. TC Energy presently has a consensus rating of “Buy” and an average target price of $65.93.

About TC Energy

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Power and Storage segments. The company builds and operates 92,600 km network 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.

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Dividend History for TC Energy (NYSE:TRP)

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