TC Energy Co. (NYSE:TRP) Raises Dividend to $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 paid 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 6.71%. The ex-dividend date of this dividend 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% per year over the last three years. TC Energy has a dividend payout ratio of 99.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research 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 Stock Performance

Shares of TC Energy stock opened at $49.00 on Friday. TC Energy has a 52 week low of $31.83 and a 52 week high of $50.22. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57. The stock’s fifty day moving average is $46.51 and its two-hundred day moving average is $42.14. The company has a market capitalization of $50.85 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 4.00 and a beta of 0.81.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. StockNews.com initiated 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. Finally, Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. 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, TC Energy currently has a consensus 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.