TC Energy (NYSE:TRP) Issues Quarterly Earnings Results

TC Energy (NYSE:TRP) (TSE:TRP) posted its quarterly earnings data on Friday. The pipeline company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.54, RTT News reports. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the previous year, the company posted $1.35 EPS.

TC Energy Stock Down 2.8 %

TRP stock opened at $46.05 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. TC Energy has a 1 year low of $31.83 and a 1 year high of $50.37. The company has a fifty day simple moving average of $46.61 and a 200 day simple moving average of $46.52. The firm has a market cap of $47.85 billion, a PE ratio of 12.76, a PEG ratio of 4.45 and a beta of 0.81.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 7.38%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is presently 63.43%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. BMO Capital Markets lifted their price objective on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. StockNews.com began coverage on shares of TC Energy in a report on Wednesday, December 4th. They set a “hold” rating on the stock. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. The Goldman Sachs Group boosted their price target on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. Finally, TD Securities began coverage on shares of TC Energy in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $56.00.

TC Energy Company Profile

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.