TC Energy Corporation (NYSE:TRP) Raises Dividend to C$0.88 Per Share

TC Energy Corporation (NYSE:TRP) (TSE:TRP) announced a quarterly dividend on Friday, February 13th. Shareholders of record on Tuesday, March 31st will be paid a dividend of 0.8775 per share by the pipeline company on Thursday, April 30th. This represents a c) annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, March 31st. This is a 3.2% increase from TC Energy’s previous quarterly dividend of $0.85.

TC Energy has decreased its dividend by an average of 0.0%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 86.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect TC Energy to earn $2.81 per share next year, which means the company should continue to be able to cover its $2.47 annual dividend with an expected future payout ratio of 87.9%.

TC Energy Trading Up 3.4%

TC Energy stock traded up $2.12 during trading hours on Friday, reaching $63.52. The stock had a trading volume of 3,386,004 shares, compared to its average volume of 2,556,865. The company has a fifty day simple moving average of $55.97 and a 200-day simple moving average of $53.37. TC Energy has a 52 week low of $43.59 and a 52 week high of $63.94. The stock has a market cap of $66.11 billion, a PE ratio of 27.38 and a beta of 0.73. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.63 and a quick ratio of 0.56.

Analyst Ratings Changes

TRP has been the topic of several recent analyst reports. Citigroup reissued a “neutral” rating on shares of TC Energy in a research note on Thursday, November 20th. BMO Capital Markets upgraded TC Energy from a “market perform” rating to an “outperform” rating in a research report on Friday, November 7th. TD Securities restated a “buy” rating on shares of TC Energy in a report on Friday, October 17th. Royal Bank Of Canada raised their price target on TC Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Finally, Morgan Stanley reissued an “overweight” rating on shares of TC Energy in a research report on Wednesday, January 28th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $84.00.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.