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

TC Energy Co. (NYSE:TRP - Get Free Report) TSE: TRP announced a quarterly dividend on Friday, February 14th,RTT News reports. Shareholders of record on Monday, March 31st will be paid 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 yield of 7.33%. The ex-dividend date is Monday, March 31st. 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% annually over the last three years. TC Energy has a payout ratio of 78.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities 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 Trading Up 1.0 %

NYSE:TRP traded up $0.46 during mid-day trading on Tuesday, reaching $46.38. The company's stock had a trading volume of 2,071,482 shares, compared to its average volume of 2,135,360. The company's fifty day simple moving average is $46.58 and its two-hundred day simple moving average is $46.60. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.37. The stock has a market cap of $48.19 billion, a P/E ratio of 12.85, a P/E/G ratio of 4.45 and a beta of 0.81.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.54. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates 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 in the previous year, the company posted $1.35 EPS. On average, equities analysts predict that TC Energy will post 2.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. TD Securities assumed coverage on TC Energy in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. BMO Capital Markets boosted their price target on TC Energy from $66.00 to $70.00 and gave the stock 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. StockNews.com began coverage on TC Energy in a research report on Wednesday, December 4th. They set a "hold" rating on the stock. Finally, Morgan Stanley upgraded TC Energy from an "underweight" rating to an "overweight" rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $62.00.

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.