TC Energy Co. (NYSE:TRP) Declares Quarterly Dividend of $0.70

TC Energy Co. (NYSE:TRP) (TSE:TRP) announced a quarterly dividend on Thursday, August 1st, Zacks reports. Stockholders of record on Friday, September 27th will be paid a dividend of 0.702 per share by the pipeline company on Thursday, October 31st. This represents a $2.81 dividend on an annualized basis and a dividend yield of 5.87%. The ex-dividend date of this dividend is Friday, September 27th.

TC Energy has raised its dividend payment by an average of 5.0% annually over the last three years. TC Energy has a payout ratio of 89.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect TC Energy to earn $3.17 per share next year, which means the company should continue to be able to cover its $2.83 annual dividend with an expected future payout ratio of 89.3%.

TC Energy Stock Performance

Shares of NYSE TRP opened at $47.85 on Thursday. The company has a market capitalization of $49.64 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 3.83 and a beta of 0.81. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. The company’s fifty day moving average price is $44.32 and its 200 day moving average price is $40.47. TC Energy has a 1 year low of $32.51 and a 1 year high of $47.86.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same period last year, the firm earned $0.71 EPS. On average, research analysts predict that TC Energy will post 3.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TRP. StockNews.com began coverage on TC Energy in a research report on Thursday, September 19th. They set a “hold” rating on the stock. Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, TC Energy currently has a consensus rating of “Hold” and an average target price of $43.50.

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.