TC Energy (NYSE:TRP) Announces Quarterly Earnings Results

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP issued its quarterly earnings data on Friday. The pipeline company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.54, RTT News reports. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. During the same quarter last year, the firm earned $1.35 earnings per share.

TC Energy Stock Performance

Shares of NYSE:TRP traded up $0.46 on Tuesday, hitting $46.38. 2,071,482 shares of the company were exchanged, compared to its average volume of 2,135,360. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The company's 50 day moving average price is $46.58 and its two-hundred day moving average price is $46.60. TC Energy has a one year low of $31.83 and a one year high of $50.37. The firm has a market capitalization of $48.19 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 4.45 and a beta of 0.81.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 7.33%. This is a positive change from TC Energy's previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. TC Energy's dividend payout ratio (DPR) is currently 63.43%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TRP shares. Royal Bank of Canada raised their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a report on Tuesday. TD Securities began coverage on TC Energy in a research report on Wednesday, January 15th. They issued a "buy" rating for the company. The Goldman Sachs Group upped their price target on TC Energy from $38.00 to $42.00 and gave the stock a "sell" rating in a research note on Monday, October 21st. US Capital Advisors raised TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. Finally, StockNews.com assumed coverage on TC Energy in a research report on Wednesday, December 4th. They set a "hold" rating for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, TC Energy currently has a consensus rating of "Hold" and an average price target of $62.00.

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.