TC Energy Corporation (TRP) to Distribute Quarterly Dividend of C$0.88 on January 29th

TC Energy Corporation (NYSE:TRP) (TSE:TRP) announced a quarterly dividend on Thursday, November 5th. Investors of record on Thursday, December 31st will be given a dividend of C$0.88 per share by the pipeline company on Friday, January 29th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Thursday, December 31st.

TC Energy has decreased its dividend by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. TC Energy has a payout ratio of 88.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 $2.53 annual dividend with an expected future payout ratio of 86.9%.

TC Energy Stock Performance

NYSE:TRP opened at $61.95 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $61.95 billion, a PE ratio of 23.92 and a beta of 0.64. The firm has a 50-day moving average price of $61.34 and a 200 day moving average price of $63.84. TC Energy has a 12-month low of $50.72 and a 12-month high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, November 5th. The pipeline company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.03. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.79 billion. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. During the same period last year, the firm earned $0.77 earnings per share. Research analysts anticipate that TC Energy will post 2.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TRP. Raymond James Financial restated a “market perform” rating on shares of TC Energy in a research note on Wednesday, September 16th. TD raised shares of TC Energy to a “buy” rating in a research report on Tuesday, September 15th. TD Securities restated a “buy” rating on shares of TC Energy in a research report on Friday, October 16th. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research note on Tuesday, July 21st. Finally, Jefferies Financial Group upgraded TC Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, TC Energy has a consensus rating of “Moderate Buy” and an average target price of $93.75.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company that develops and operates natural gas and liquids pipelines, natural gas storage facilities, and power-generation assets. Its services help transport and store energy for producers, utilities, businesses, and consumers.

The company’s pipeline network spans Canada, the United States, and Mexico. Its power-generation portfolio includes an interest in Bruce Power, which operates a nuclear generating station in Ontario.

Founded as TransCanada Corporation, the company adopted the TC Energy name in 2019.