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

TC Energy Co. (NYSE:TRP) (TSE:TRP) announced a quarterly dividend on Friday, May 3rd, Zacks reports. Investors 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 7.55%. The ex-dividend date is Friday, June 28th.

TC Energy has increased its dividend payment by an average of 5.0% annually 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 decline. Equities research 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 Trading Up 3.3 %

Shares of NYSE:TRP traded up $1.21 during mid-day trading on Friday, hitting $37.62. The stock had a trading volume of 3,893,017 shares, 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. The company has a market cap of $37.62 billion, a PE ratio of 18.53, a P/E/G ratio of 3.14 and a beta of 0.76. TC Energy has a 12-month low of $32.51 and a 12-month high of $42.49. The company’s 50 day moving average is $38.53 and its 200-day moving average is $38.07.

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

Wall Street Analysts Forecast Growth

TRP has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of TC Energy in a research report on Tuesday, February 27th. They issued a “hold” rating for the company. Barclays increased their price target on shares of TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Stifel Nicolaus assumed coverage on shares of TC Energy in a research note on Thursday, January 18th. They set a “buy” rating on the stock. The Goldman Sachs Group increased their price target on shares of TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. Finally, TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, TC Energy presently has an average 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.