TC Energy Corporation (NYSE:TRP) Declares Quarterly Dividend of C$0.88

TC Energy Corporation (NYSE:TRP) (TSE:TRP) announced a quarterly dividend on Thursday, July 30th. Investors of record on Tuesday, September 29th will be given a dividend of 0.8775 per share by the pipeline company on Friday, October 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Tuesday, September 29th.

TC Energy has decreased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. TC Energy has a payout ratio of 86.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect TC Energy to earn $2.89 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 85.5%.

TC Energy Price Performance

Shares of TRP traded up $0.72 on Thursday, reaching $68.00. The stock had a trading volume of 1,775,772 shares, compared to its average volume of 2,530,459. TC Energy has a twelve month low of $46.93 and a twelve month high of $71.47. The firm has a market capitalization of $70.86 billion, a PE ratio of 29.52 and a beta of 0.66. The firm has a 50-day moving average of $68.50 and a 200 day moving average of $64.29. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the previous year, the firm posted $0.95 earnings per share. Sell-side analysts expect that TC Energy will post 2.72 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC acquired a new stake in shares of TC Energy during the 1st quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of TC Energy during the fourth quarter valued at approximately $25,000. Trust Co. of Vermont purchased a new position in shares of TC Energy during the fourth quarter valued at approximately $28,000. McIlrath & Eck LLC purchased a new position in shares of TC Energy during the fourth quarter valued at approximately $32,000. Finally, SWAN Capital LLC acquired a new stake in TC Energy during the third quarter worth approximately $40,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

About TC Energy

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.