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

TC Energy Co. (NYSE:TRP) (TSE:TRP) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.822 per share by the pipeline company on Friday, January 31st. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.62%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70.

TC Energy has increased its dividend payment by an average of 5.0% per year over the last three years. TC Energy has a dividend 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. Equities research 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 Stock Performance

Shares of TRP opened at $49.65 on Friday. TC Energy has a 1 year low of $31.83 and a 1 year high of $50.22. The company’s 50 day simple moving average is $46.51 and its 200 day simple moving average is $42.14. The company has a market capitalization of $51.53 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 4.00 and a beta of 0.81. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly 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. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. On average, sell-side analysts predict that TC Energy will post 3.02 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on TRP shares. StockNews.com initiated coverage on TC Energy in a report on Saturday, October 5th. They issued a “hold” rating for the company. The Goldman Sachs Group boosted their price objective on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. Finally, Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $48.50.

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.