TC Energy Co. (NYSE:TRP) Announces $0.70 Quarterly Dividend

TC Energy Co. (NYSE:TRP) (TSE:TRP) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Stockholders of record on Friday, September 27th will be given a dividend of 0.702 per share by the pipeline company on Thursday, October 31st. This represents a $2.81 annualized dividend and a dividend yield of 5.87%. The ex-dividend date is Friday, September 27th.

TC Energy has raised its dividend payment by an average of 5.0% per year over the last three years. TC Energy has a payout ratio of 89.3% meaning 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 $3.17 per share next year, which means the company should continue to be able to cover its $2.83 annual dividend with an expected future payout ratio of 89.3%.

TC Energy Trading Up 1.8 %

Shares of TRP opened at $47.85 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. The firm has a 50-day moving average price of $44.32 and a 200 day moving average price of $40.47. TC Energy has a 12-month low of $32.51 and a 12-month high of $47.86. The firm has a market capitalization of $49.64 billion, a P/E ratio of 24.66, a P/E/G ratio of 3.83 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter last year, the firm earned $0.71 EPS. Sell-side analysts forecast that TC Energy will post 3.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TRP. Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. StockNews.com began coverage on shares of TC Energy in a research report on Thursday, September 19th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $43.50.

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.