TC Energy Co. to Issue Quarterly Dividend of $0.96 (TSE:TRP)

TC Energy Co. (TSE:TRP) (NYSE:TRP) announced a quarterly dividend on Thursday, August 1st, Zacks reports. Shareholders of record on Friday, September 27th will be given a dividend of 0.96 per share on Thursday, October 31st. This represents a $3.84 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date is Friday, September 27th.

TC Energy Trading Down 1.3 %

TRP stock traded down C$0.77 during trading on Friday, hitting C$58.94. The company had a trading volume of 224,976 shares, compared to its average volume of 6,625,683. The company has a current ratio of 0.94, a quick ratio of 0.40 and a debt-to-equity ratio of 163.01. TC Energy has a one year low of C$44.70 and a one year high of C$59.98. The business has a 50-day moving average of C$53.84 and a 200-day moving average of C$52.91. The stock has a market cap of C$61.30 billion, a PE ratio of 22.97, a PEG ratio of 0.26 and a beta of 0.74.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its earnings results on Friday, May 3rd. The company reported C$1.24 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.14 by C$0.10. The business had revenue of C$4.24 billion during the quarter, compared to the consensus estimate of C$4.26 billion. TC Energy had a net margin of 17.31% and a return on equity of 8.37%. Research analysts predict that TC Energy will post 4.1883013 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kevin B. Engel sold 546 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of C$53.53, for a total transaction of C$29,227.38. In related news, Director Kevin B. Engel sold 546 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of C$53.53, for a total transaction of C$29,227.38. Also, Director Richard Prior sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of C$40.00, for a total transaction of C$200,000.00. Insiders sold 6,876 shares of company stock valued at $299,917 over the last ninety days. 0.04% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wells Fargo & Company raised their target price on TC Energy from C$59.00 to C$64.00 in a research note on Tuesday, June 4th. JPMorgan Chase & Co. boosted their target price on shares of TC Energy from C$58.00 to C$59.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. CIBC raised their price target on shares of TC Energy from C$56.00 to C$59.00 in a report on Monday, July 15th. Jefferies Financial Group upped their price objective on shares of TC Energy from C$52.00 to C$57.00 and gave the company a “hold” rating in a report on Monday. Finally, Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from C$55.00 to C$61.00 in a research report on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$56.29.

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.