TC Energy Corporation (TRP) to Issue Quarterly Dividend of C$0.85 on January 30th

TC Energy Corporation (NYSE:TRP) (TSE:TRP) announced a quarterly dividend on Thursday, November 6th. Shareholders of record on Wednesday, December 31st will be paid a dividend of 0.85 per share by the pipeline company on Friday, January 30th. This represents a c) annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Wednesday, December 31st. This is a 38.3% increase from TC Energy’s previous quarterly dividend of $0.61.

TC Energy has decreased its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. TC Energy has a dividend payout ratio of 86.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect TC Energy to earn $2.81 per share next year, which means the company should continue to be able to cover its $2.47 annual dividend with an expected future payout ratio of 87.9%.

TC Energy Stock Up 3.4%

TRP opened at $52.18 on Friday. TC Energy has a twelve month low of $43.51 and a twelve month high of $55.37. The company’s 50-day moving average price is $52.17 and its two-hundred day moving average price is $50.30. The stock has a market cap of $54.29 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 4.82 and a beta of 0.73. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 EPS for the quarter, hitting analysts’ consensus estimates of $0.56. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. As a group, equities analysts expect that TC Energy will post 2.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TRP. TD Securities reiterated a “buy” rating on shares of TC Energy in a research note on Friday, October 17th. US Capital Advisors lowered shares of TC Energy from a “moderate buy” rating to a “hold” rating in a research report on Thursday, August 21st. Cibc World Mkts cut shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Royal Bank Of Canada raised their price objective on shares of TC Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday. Finally, BMO Capital Markets upgraded TC Energy from a “market perform” rating to an “outperform” rating in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, TC Energy currently has an average rating of “Moderate Buy” and a consensus price target of $77.00.

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.