TC Energy Co. (NYSE:TRP) Plans Dividend Increase – $0.82 Per Share

TC Energy Co. (NYSE:TRP) (TSE:TRP) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.822 per share by the pipeline company on Friday, January 31st. This represents a $3.29 annualized dividend and a dividend yield of 6.71%. The ex-dividend date is Tuesday, December 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.70.

TC Energy has raised its dividend by an average of 5.0% annually over the last three years. TC Energy has a payout ratio of 99.3% 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 $2.91 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 94.8%.

TC Energy Price Performance

TRP opened at $49.00 on Friday. The stock has a 50-day moving average price of $46.51 and a 200-day moving average price of $42.14. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. The firm has a market cap of $50.85 billion, a PE ratio of 20.35, a P/E/G ratio of 4.00 and a beta of 0.81. TC Energy has a 1 year low of $31.83 and a 1 year high of $50.22.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. Sell-side analysts predict that TC Energy will post 3.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Veritas raised TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. StockNews.com started coverage on TC Energy in a research note on Saturday, October 5th. They set a “hold” rating for the company. The Goldman Sachs Group boosted their price target on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st. Finally, Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $48.50.

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.