TC Energy Co. (NYSE:TRP) Announces Dividend Increase – $0.82 Per Share

TC Energy Co. (NYSE:TRP) (TSE:TRP) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders 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 dividend on an annualized basis and a yield of 7.11%. The ex-dividend date is Tuesday, December 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.70.

TC Energy has raised its dividend payment by an average of 5.0% annually over the last three years. TC Energy has a payout ratio of 84.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect TC Energy to earn $2.71 per share next year, which means the company should continue to be able to cover its $2.29 annual dividend with an expected future payout ratio of 84.5%.

TC Energy Price Performance

TC Energy stock opened at $46.26 on Friday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The company’s 50 day simple moving average is $47.68 and its 200-day simple moving average is $44.72. TC Energy has a 1 year low of $31.83 and a 1 year high of $50.37. The company has a market capitalization of $48.02 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 3.88 and a beta of 0.82.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly 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. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. As a group, equities research analysts expect that TC Energy will post 3 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. BMO Capital Markets increased their price target on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. The Goldman Sachs Group boosted their price target on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Finally, Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $55.67.

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.