TC Energy Co. (NYSE:TRP) Increases Dividend to $0.82 Per Share

TC Energy Co. (NYSE:TRP) (TSE:TRP) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.822 per share by the pipeline company on Friday, January 31st. This represents a $3.29 annualized dividend and a yield of 6.74%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.70.

TC Energy has increased its dividend by an average of 5.0% annually over the last three years. TC Energy has a dividend payout ratio of 99.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect TC Energy to earn $2.91 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 94.8%.

TC Energy Trading Down 1.9 %

Shares of NYSE:TRP opened at $48.76 on Friday. The stock has a market capitalization of $50.61 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 4.00 and a beta of 0.81. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. The stock’s 50-day simple moving average is $46.64 and its two-hundred day simple moving average is $42.28. TC Energy has a 52-week low of $31.83 and a 52-week high of $50.22.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. Analysts expect that TC Energy will post 3.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TRP. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. StockNews.com began coverage on TC Energy in a research report on Saturday, October 5th. They set a “hold” rating on the stock. Veritas raised TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group lifted their price objective on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. Finally, Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, TC Energy has an average rating of “Hold” and a consensus price target of $48.50.

About TC Energy

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.