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

TC Energy Co. (NYSE:TRP) (TSE:TRP) announced a quarterly dividend on Friday, May 3rd, Zacks reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.71 per share by the pipeline company on Wednesday, July 31st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.55%. The ex-dividend date of this dividend is Friday, June 28th.

TC Energy has raised its dividend by an average of 5.0% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. TC Energy has a dividend payout ratio of 90.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect TC Energy to earn $2.96 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 94.9%.

TC Energy Stock Performance

NYSE:TRP traded up $1.21 during mid-day trading on Friday, reaching $37.62. 3,893,017 shares of the company’s stock were exchanged, compared to its average volume of 4,264,774. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 0.96. TC Energy has a one year low of $32.51 and a one year high of $42.49. The business’s fifty day simple moving average is $38.53 and its two-hundred day simple moving average is $38.07. The firm has a market capitalization of $37.62 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 3.14 and a beta of 0.76.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.20. The firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.93 billion. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. Analysts anticipate that TC Energy will post 2.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on TRP shares. TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. Jefferies Financial Group began coverage on shares of TC Energy in a report on Tuesday, February 27th. They issued a “hold” rating for the company. Barclays boosted their price objective on TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. The Goldman Sachs Group increased their price objective on TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a report on Friday, January 26th. Finally, Stifel Nicolaus started coverage on shares of TC Energy in a report on Thursday, January 18th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, TC Energy has a consensus rating of “Hold” and a consensus 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.