TC Energy Corporation (NYSE:TRP) Declares Quarterly Dividend of $0.61

Key Points

• TC Energy Corporation has declared a quarterly dividend of $0.61, which shows a 0.1% increase from the previous dividend payout.
• The company's dividend yield stands at 5.1%, with a dividend payout ratio of 87.0%, indicating current earnings cover the dividend but may not in the future.
• TC Energy reported an EPS of $0.59, surpassing analysts' expectations, while the company had a revenue of $1.82 billion for the quarter.

TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP declared a quarterly dividend on Friday, August 1st, Wall Street Journal reports. Stockholders of record on Monday, September 29th will be given a dividend of 0.6148 per share by the pipeline company on Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Monday, September 29th. This is a 0.1% increase from TC Energy's previous quarterly dividend of $0.61.

TC Energy has a dividend payout ratio of 87.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Analysts expect TC Energy to earn $2.81 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 88.3%.

TC Energy Stock Performance

Shares of NYSE TRP traded up $0.51 during midday trading on Friday, hitting $48.39. The company's stock had a trading volume of 1,357,424 shares, compared to its average volume of 2,422,154. TC Energy has a 1-year low of $37.41 and a 1-year high of $51.99. The firm's fifty day moving average price is $48.58 and its 200-day moving average price is $47.85. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.63 and a current ratio of 0.70. The firm has a market cap of $50.32 billion, a P/E ratio of 15.97, a P/E/G ratio of 4.56 and a beta of 0.76.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. TC Energy had a net margin of 29.17% and a return on equity of 11.41%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period in the previous year, the business posted $0.79 EPS. On average, sell-side analysts forecast that TC Energy will post 2.63 EPS for the current fiscal year.

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.

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