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

TC Energy Co. (TSE:TRP) (NYSE:TRP) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders 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 dividend yield of 6.47%. 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 Stock Up 2.2 %

Shares of TRP opened at C$68.83 on Friday. TC Energy has a 52 week low of C$43.83 and a 52 week high of C$69.61. The stock has a market capitalization of C$71.58 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76. The stock has a fifty day moving average of C$63.46 and a 200-day moving average of C$57.39.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 EPS for the quarter, beating analysts’ consensus estimates of C$0.97 by C$0.06. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. The company had revenue of C$4.08 billion during the quarter, compared to analysts’ expectations of C$3.90 billion. As a group, sell-side analysts anticipate that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on TRP shares. Barclays increased their price target on TC Energy from C$66.00 to C$67.00 in a research note on Monday, October 21st. Veritas upgraded TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Scotiabank decreased their price objective on TC Energy from C$62.00 to C$61.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Morgan Joseph upgraded TC Energy from an “underweight” rating to an “overweight” rating and increased their price objective for the company from C$62.00 to C$78.00 in a report on Friday, October 25th. Finally, National Bankshares decreased their price target on TC Energy from C$65.00 to C$60.00 and set an “outperform” rating for the company in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$61.92.

Insider Activity at TC Energy

In related news, Director Rosemary K. Stevens sold 1,200 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of C$59.88, for a total value of C$71,856.00. Following the transaction, the director now owns 987 shares of the company’s stock, valued at approximately C$59,101.56. This trade represents a 0.00 % decrease in their position. In other TC Energy news, Director Rosemary K. Stevens sold 1,200 shares of TC Energy stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of C$59.88, for a total transaction of C$71,856.00. Following the transaction, the director now owns 987 shares of the company’s stock, valued at C$59,101.56. This trade represents a 0.00 % decrease in their position. Also, Director Richard Prior sold 3,000 shares of TC Energy stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of C$44.00, for a total transaction of C$132,000.00. In the last quarter, insiders have sold 76,114 shares of company stock valued at $4,704,641. 0.03% of the stock is owned by corporate insiders.

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.