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

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 dividend on an annualized basis and a dividend yield of 7.55%. The ex-dividend date is Friday, June 28th.

TC Energy has increased its dividend payment by an average of 5.0% per year over the last three years and has increased its dividend every year for the last 1 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 tumble. 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 Price Performance

NYSE:TRP traded up $1.21 during trading hours on Friday, reaching $37.62. 3,893,017 shares of the company were exchanged, compared to its average volume of 4,264,774. The stock’s 50-day moving average is $38.53 and its 200-day moving average is $38.07. TC Energy has a twelve month low of $32.51 and a twelve month high of $42.49. The firm has a market cap 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. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65.

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

Wall Street Analyst Weigh In

TRP has been the subject of a number of research reports. TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. The Goldman Sachs Group raised their target price on TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. Jefferies Financial Group began coverage on TC Energy in a research note on Tuesday, February 27th. They issued a “hold” rating on the stock. Barclays raised 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. Finally, Stifel Nicolaus started coverage on shares of TC Energy in a research report on Thursday, January 18th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average 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.