TC Energy Co. (TSE:TRP) Raises Dividend to $1.11 Per Share

TC Energy Co. (TSE:TRP) (NYSE:TRP) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Tuesday, December 31st will be paid a dividend of 1.113 per share on Friday, January 31st. This represents a $4.45 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.96.

TC Energy Price Performance

TC Energy stock opened at C$66.74 on Friday. The company has a market capitalization of C$69.41 billion, a PE ratio of 20.16, a P/E/G ratio of 1.69 and a beta of 0.82. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84. The stock has a 50-day moving average price of C$67.04 and a two-hundred day moving average price of C$61.41. TC Energy has a 12 month low of C$43.83 and a 12 month high of C$70.32.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.97 by C$0.06. The firm had revenue of C$4.08 billion for the quarter, compared to analyst estimates of C$3.90 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. Analysts expect that TC Energy will post 3.5490515 EPS for the current year.

Insider Activity at TC Energy

In related news, Director Jawad Masud sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of C$66.50, for a total transaction of C$332,500.00. Also, Director Colin Lindley sold 3,194 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of C$68.70, for a total transaction of C$219,425.56. Following the completion of the sale, the director now owns 697 shares of the company’s stock, valued at approximately C$47,883.41. This trade represents a 82.09 % decrease in their position. Insiders have sold a total of 420,911 shares of company stock valued at $28,259,105 over the last 90 days. Insiders own 0.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TRP shares. Barclays increased their price objective on shares of TC Energy from C$67.00 to C$74.00 in a research report on Wednesday, November 20th. Veritas raised shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Morgan Joseph upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating and boosted their target price for the company from C$62.00 to C$78.00 in a research report on Friday, October 25th. ATB Capital increased their target price on shares of TC Energy from C$64.00 to C$65.00 in a research note on Friday, November 8th. Finally, Wells Fargo & Company lifted their price target on shares of TC Energy from C$74.00 to C$76.00 in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$69.77.

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.