TC Energy Co. (NYSE:TRP) Announces Quarterly Dividend of $0.85

TC Energy Co. (NYSE:TRP) (TSE:TRP) announced a quarterly dividend on Friday, February 14th,RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.85 per share by the pipeline company on Wednesday, April 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.38%. This is an increase from TC Energy’s previous quarterly dividend of $0.82.

TC Energy has raised its dividend by an average of 2.5% per year over the last three years. TC Energy has a payout ratio of 78.5% 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 $2.64 per share next year, which means the company should continue to be able to cover its $2.27 annual dividend with an expected future payout ratio of 86.0%.

TC Energy Stock Performance

TRP stock opened at $46.05 on Friday. The stock’s 50 day simple moving average is $46.61 and its 200 day simple moving average is $46.52. 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 12-month low of $31.83 and a 12-month high of $50.37. The stock has a market capitalization of $47.85 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.51 by $0.54. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. During the same period last year, the firm posted $1.35 earnings per share. As a group, research analysts forecast that TC Energy will post 2.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TRP has been the subject of a number of research reports. TD Securities started coverage on shares of TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating for the company. 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. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. The Goldman Sachs Group increased their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. Finally, StockNews.com initiated coverage on shares of TC Energy in a research report on Wednesday, December 4th. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, TC Energy has an average rating of “Hold” and an average price target of $56.00.

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.