TC Energy Co. (NYSE:TRP) Plans $0.71 Quarterly Dividend

TC Energy Co. (NYSE:TRP - Get Free Report) TSE: TRP declared a quarterly dividend on Friday, May 3rd, Zacks reports. Investors of record on Friday, June 28th will be paid a dividend of 0.71 per share by the pipeline company on Wednesday, July 31st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.55%. The ex-dividend date of this dividend is Friday, June 28th.

TC Energy has raised its dividend payment by an average of 5.0% per year over the last three years and has increased its dividend every year for the last 1 years. TC Energy has a payout ratio of 90.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Equities analysts expect TC Energy to earn $2.96 per share next year, which means the company should continue to be able to cover its $2.81 annual dividend with an expected future payout ratio of 94.9%.

TC Energy Trading Up 3.3 %

Shares of NYSE TRP traded up $1.21 during mid-day trading on Friday, hitting $37.62. 3,893,017 shares of the company traded hands, compared to its average volume of 4,264,774. The company has a quick ratio of 0.88, a current ratio of 0.96 and a debt-to-equity ratio of 1.65. TC Energy has a 1 year low of $32.51 and a 1 year high of $42.49. The stock has a market capitalization of $37.62 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 3.14 and a beta of 0.76. The business has a 50 day moving average of $38.49 and a two-hundred day moving average of $38.09.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.93 billion. On average, sell-side analysts anticipate that TC Energy will post 2.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TRP shares. TheStreet upgraded shares of TC Energy from a "c+" rating to a "b-" rating in a research report on Wednesday, March 20th. Stifel Nicolaus started coverage on TC Energy in a report on Thursday, January 18th. They set a "buy" rating on the stock. Jefferies Financial Group began coverage on TC Energy in a research note on Tuesday, February 27th. They issued a "hold" rating for the company. Barclays lifted their target price on TC Energy from $53.00 to $55.00 and gave the company an "equal weight" rating in a research note on Monday, January 29th. Finally, The Goldman Sachs Group increased their price target on shares of TC Energy from $29.00 to $32.00 and gave the stock a "sell" rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $48.83.

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.