TC Energy (NYSE:TRP) Announces Quarterly Earnings Results, Beats Expectations By $0.54 EPS

TC Energy (NYSE:TRP) (TSE:TRP) posted its earnings results on Friday. The pipeline company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates 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%. During the same period in the prior year, the firm posted $1.35 EPS.

TC Energy Stock Down 3.7 %

Shares of NYSE:TRP traded down $1.77 during trading on Friday, reaching $45.63. The stock had a trading volume of 1,518,636 shares, compared to its average volume of 2,067,994. The firm’s 50-day simple moving average is $46.65 and its 200 day simple moving average is $46.49. 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 one year low of $31.83 and a one year high of $50.37. The company has a market capitalization of $47.41 billion, a P/E ratio of 12.66, a PEG ratio of 4.45 and a beta of 0.81.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.85 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a yield of 7.45%. TC Energy’s payout ratio is currently 63.43%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TRP shares. TD Securities initiated coverage on shares of TC Energy in a report on Wednesday, January 15th. They set a “buy” rating on the stock. BMO Capital Markets upped their price objective on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. StockNews.com assumed coverage on TC Energy in a research report on Wednesday, December 4th. They issued a “hold” rating on the stock. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Finally, The Goldman Sachs Group upped their price target on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus 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.