TC Energy Co. (NYSE:TRP) to Issue Dividend Increase – $0.85 Per Share

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

TC Energy has raised 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. Equities 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 Down 2.8 %

Shares of NYSE:TRP opened at $46.05 on Friday. The company has a market capitalization of $47.85 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 4.45 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The business’s 50-day moving average is $46.65 and its 200-day moving average is $46.49. TC Energy has a 1 year low of $31.83 and a 1 year high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the company posted $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 commented on TRP. BMO Capital Markets boosted their price objective on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. The Goldman Sachs Group boosted their price objective on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. TD Securities began coverage on TC Energy in a report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus 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.