TC Energy Co. (NYSE:TRP) Increases Dividend to $0.82 Per Share

TC Energy Co. (NYSE:TRP - Get Free Report) TSE: TRP announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders 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 yield of 6.74%. The ex-dividend date is Tuesday, December 31st. This is an increase from TC Energy's previous quarterly dividend of $0.70.

TC Energy has increased its dividend payment by an average of 5.0% annually 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 decline. 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 Trading Down 1.9 %

Shares of NYSE:TRP traded down $0.92 during mid-day trading on Friday, hitting $48.76. The company had a trading volume of 2,205,937 shares, compared to its average volume of 3,116,888. TC Energy has a one year low of $31.83 and a one year high of $50.22. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. The company has a market capitalization of $50.61 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 4.00 and a beta of 0.81. The firm has a fifty day moving average price of $46.51 and a 200 day moving average price of $42.14.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.06. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The business had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $2.83 billion. As a group, research analysts forecast that TC Energy will post 3.02 EPS for the current year.

Wall Street Analysts Forecast Growth

TRP has been the subject of a number of recent analyst reports. The Goldman Sachs Group boosted their price target on shares of TC Energy from $38.00 to $42.00 and gave the company a "sell" rating in a research report on Monday, October 21st. StockNews.com began coverage on shares of TC Energy in a report on Saturday, October 5th. They issued a "hold" rating for the company. Morgan Stanley raised shares of TC Energy from an "underweight" rating to an "overweight" rating in a report on Friday, October 25th. UBS Group raised shares of TC Energy from a "neutral" rating to a "buy" rating in a research note on Monday, September 30th. Finally, Veritas upgraded TC Energy to a "strong sell" rating in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price 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.