TC Energy Co. (TRP) to Distribute Quarterly Dividend of $0.85 on April 30th

TC Energy Co. (NYSE:TRP) (TSE:TRP) declared a quarterly dividend on Friday, February 14th,RTT News reports. Investors of record on Monday, March 31st will be given a dividend of 0.85 per share by the pipeline company on Wednesday, April 30th. This represents a $3.40 annualized dividend and a yield of 7.38%. This is a boost from TC Energy’s previous quarterly dividend of $0.82.

TC Energy has raised its dividend payment by an average of 2.5% annually over the last three years. TC Energy has a payout ratio of 78.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect TC Energy to earn $2.64 per share next year, which means the company should continue to be able to cover its $2.27 annual dividend with an expected future payout ratio of 86.0%.

TC Energy Stock Performance

NYSE:TRP opened at $46.05 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. TC Energy has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The firm has a market cap of $47.85 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81. The business has a 50 day moving average price of $46.61 and a 200-day moving average price of $46.52.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. During the same quarter last year, the firm earned $1.35 EPS. Equities research analysts predict that TC Energy will post 2.92 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TRP. The Goldman Sachs Group lifted their price objective on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. StockNews.com started coverage on shares of TC Energy in a research note on Wednesday, December 4th. They set a “hold” rating on the stock. Finally, TD Securities began coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Two 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, the stock presently has a consensus rating of “Hold” and an average price target of $56.00.

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.