TC Energy Co. (NYSE:TRP) Plans $0.71 Quarterly Dividend

TC Energy Co. (NYSE:TRP) (TSE:TRP) declared a quarterly dividend on Friday, May 3rd, Zacks reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.71 per share by the pipeline company on Wednesday, July 31st. This represents a $2.84 annualized dividend and a dividend yield of 7.37%. The ex-dividend date of this dividend is Friday, June 28th.

TC Energy has raised its dividend by an average of 5.0% per year over the last three years. TC Energy has a payout ratio of 91.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect TC Energy to earn $3.04 per share next year, which means the company should continue to be able to cover its $2.81 annual dividend with an expected future payout ratio of 92.4%.

TC Energy Stock Performance

Shares of TRP opened at $38.53 on Thursday. TC Energy has a 1 year low of $32.51 and a 1 year high of $41.03. The company has a market cap of $38.53 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 3.25 and a beta of 0.79. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.85 and a current ratio of 0.94. The firm has a fifty day moving average of $37.92 and a 200-day moving average of $38.77.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. TC Energy had a net margin of 17.23% and a return on equity of 17.94%. The business had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.12 billion. As a group, equities analysts anticipate that TC Energy will post 3.01 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, TC Energy has a consensus rating of “Hold” and an average target price of $48.83.

TC Energy Company Profile

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 93,600 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.