TC Energy Co. (TRP) To Go Ex-Dividend on December 31st

TC Energy Co. (NYSE:TRP) (TSE:TRP) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.822 per share by the pipeline company on Friday, January 31st. This represents a $3.29 annualized dividend and a dividend yield of 6.74%. The ex-dividend date of this dividend 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% per year over the last three years. TC Energy has a payout ratio of 99.3% 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 $2.76 annual dividend with an expected future payout ratio of 94.8%.

TC Energy Price Performance

Shares of TRP stock opened at $48.76 on Friday. 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 has a fifty-two week low of $31.83 and a fifty-two week high of $50.22. The firm has a market cap of $50.61 billion, a P/E ratio of 19.98, a P/E/G ratio of 4.00 and a beta of 0.81. The business’s 50 day moving average price is $46.64 and its 200-day moving average price is $42.28.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. On average, equities research analysts anticipate that TC Energy will post 3.02 earnings per share for the current year.

Analysts Set New Price Targets

TRP has been the subject of a number of research analyst reports. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. Finally, StockNews.com initiated coverage on TC Energy in a report on Saturday, October 5th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $48.50.

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.