Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) declared a quarterly dividend on Friday, July 31st, Wall Street Journal reports. Shareholders of record on Wednesday, September 30th will be paid a dividend of 0.6072 per share by the pipeline company on Friday, October 30th. This represents a $2.43 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date of this dividend is Tuesday, September 29th.
Tc Pipelines has raised its dividend by an average of 31.7% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Tc Pipelines has a payout ratio of 77.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Tc Pipelines to earn $3.03 per share next year, which means the company should continue to be able to cover its $2.26 annual dividend with an expected future payout ratio of 74.6%.
Shares of TRP stock opened at $45.60 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.51 and a quick ratio of 0.49. The company has a market capitalization of $42.77 billion, a P/E ratio of 14.58, a P/E/G ratio of 3.77 and a beta of 0.72. The company’s 50-day simple moving average is $43.48 and its two-hundred day simple moving average is $47.02. Tc Pipelines has a one year low of $32.37 and a one year high of $57.92.
Tc Pipelines (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.23. Tc Pipelines had a net margin of 33.69% and a return on equity of 13.74%. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period last year, the firm earned $1.00 earnings per share. On average, research analysts expect that Tc Pipelines will post 2.99 EPS for the current fiscal year.
TRP has been the topic of a number of recent research reports. Evercore ISI initiated coverage on shares of Tc Pipelines in a research note on Monday, June 15th. They set a “buy” rating on the stock. Indl Alliance S upgraded shares of Tc Pipelines from a “hold” rating to a “buy” rating in a research note on Monday, May 25th. UBS Group increased their price objective on shares of Tc Pipelines from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, April 6th. Scotiabank upgraded shares of Tc Pipelines from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, July 15th. Finally, BMO Capital Markets downgraded shares of Tc Pipelines from an “outperform” rating to a “market perform” rating and set a $65.00 target price for the company. in a research note on Tuesday, May 12th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Tc Pipelines currently has a consensus rating of “Buy” and an average price target of $66.87.
Tc Pipelines Company Profile
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 Energy segments. The company transports natural gas to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, and other businesses.
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