TC Energy Corporation (NYSE:TRP) to Issue C$0.88 Quarterly Dividend

Key Points

• TC Energy declared a C$0.8775 quarterly dividend, payable July 31 to shareholders of record on June 30 (ex-dividend date June 30), implying an annualized yield of about 5.3%.
• Dividend coverage is tight—the company’s payout ratio is about 88.4%, and analysts forecast roughly $2.87 EPS next year, implying an expected payout ratio near 87.8% and limited room if earnings decline.
• Shares trade near recent highs—TRP was trading around $66.62 (down ~0.5%), with a market cap of about $69.4B, a P/E of ~28.7, and a 12‑month range of $46.29–$67.31.

TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP declared a quarterly dividend on Friday, May 1st. Shareholders of record on Tuesday, June 30th will be paid a dividend of 0.8775 per share by the pipeline company on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Tuesday, June 30th.

TC Energy has decreased its dividend payment 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 dividend payout ratio of 88.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Equities analysts expect TC Energy to earn $2.87 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 87.8%.

TC Energy Trading Down 0.5%

Shares of TRP traded down $0.31 during trading hours on Friday, hitting $66.62. The stock had a trading volume of 2,333,769 shares, compared to its average volume of 2,616,844. TC Energy has a 12-month low of $46.29 and a 12-month high of $67.31. The firm has a market cap of $69.40 billion, a P/E ratio of 28.66 and a beta of 0.69. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.56 and a current ratio of 0.63. The company's fifty day simple moving average is $63.11 and its 200 day simple moving average is $57.76.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.05. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. The firm had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.94 billion. During the same period in the previous year, the company posted $1.05 earnings per share. Equities research analysts forecast that TC Energy will post 2.76 EPS for the current fiscal year.

Institutional Investors Weigh In On TC Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRP. Wealthstar Advisors LLC boosted its holdings in TC Energy by 1.5% during the first quarter. Wealthstar Advisors LLC now owns 11,465 shares of the pipeline company's stock worth $718,000 after buying an additional 165 shares during the last quarter. Mesirow Financial Investment Management Inc. increased its stake in shares of TC Energy by 2.0% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company's stock valued at $544,000 after acquiring an additional 200 shares during the last quarter. Gold Investment Management Ltd. increased its stake in shares of TC Energy by 2.0% in the 4th quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company's stock valued at $549,000 after acquiring an additional 200 shares during the last quarter. Kingswood Wealth Advisors LLC raised its position in shares of TC Energy by 2.8% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 7,342 shares of the pipeline company's stock valued at $399,000 after acquiring an additional 202 shares during the period. Finally, Kennebec Savings Bank raised its position in shares of TC Energy by 2.1% in the 4th quarter. Kennebec Savings Bank now owns 9,854 shares of the pipeline company's stock valued at $542,000 after acquiring an additional 203 shares during the period. Hedge funds and other institutional investors own 83.13% of the company's stock.

About TC Energy

TC Energy NYSE: TRP is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company's principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.

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