TC Energy Co. (NYSE:TRP) Announces Quarterly Dividend of $0.85

TC Energy Co. (NYSE:TRP) (TSE:TRP) declared a quarterly dividend on Friday, February 14th,RTT News reports. Stockholders of record on Monday, March 31st will be paid a dividend of 0.85 per share by the pipeline company on Wednesday, April 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.18%. This is an increase from TC Energy’s previous quarterly dividend of $0.82.

TC Energy has increased its dividend by an average of 2.5% per year over the last three years. TC Energy has a payout ratio of 78.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect TC Energy to earn $2.64 per share next year, which means the company should continue to be able to cover its $2.27 annual dividend with an expected future payout ratio of 86.0%.

TC Energy Trading Up 1.2 %

NYSE TRP opened at $47.38 on Friday. The firm has a market cap of $49.23 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81. TC Energy has a 1-year low of $31.83 and a 1-year high of $50.37. The stock has a 50-day moving average of $46.68 and a 200-day moving average of $46.48. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. StockNews.com initiated coverage on shares of TC Energy in a research report on Wednesday, December 4th. They issued a “hold” rating on the stock. TD Securities started coverage on shares of TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Finally, The Goldman Sachs Group raised their target price on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, TC Energy presently has a consensus rating of “Hold” and an average target price of $56.00.

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.