TC Energy Co. (NYSE:TRP) Increases Dividend to $0.85 Per Share

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 positive change from TC Energy’s previous quarterly dividend of $0.82.

TC Energy has increased its dividend payment by an average of 2.5% per year over the last three years. TC Energy has a dividend payout ratio of 78.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 Price Performance

TC Energy stock opened at $46.05 on Friday. TC Energy has a 12 month low of $31.83 and a 12 month high of $50.37. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The business’s 50 day simple moving average is $46.65 and its 200 day simple moving average is $46.49. The company has a market cap of $47.85 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 4.45 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.51 by $0.54. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. During the same period in the prior year, the business earned $1.35 EPS. Sell-side analysts forecast that TC Energy will post 2.92 EPS for the current year.

Analyst Upgrades and Downgrades

TRP has been the topic of several recent research reports. StockNews.com started coverage on TC Energy in a research report on Wednesday, December 4th. They set a “hold” rating on the stock. The Goldman Sachs Group increased 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. TD Securities started coverage on TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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.