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

TC Energy Co. (NYSE:TRP) (TSE:TRP) announced a quarterly dividend on Friday, February 14th, RTT News reports. Investors of record on Monday, March 31st will be given a dividend of 0.85 per share by the pipeline company on Wednesday, April 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date is Monday, March 31st. This is a 3.4% increase from TC Energy’s previous quarterly dividend of $0.82.

TC Energy has raised its dividend payment by an average of 2.5% per year over the last three years. TC Energy has a payout ratio of 82.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect TC Energy to earn $2.81 per share next year, which means the company should continue to be able to cover its $2.37 annual dividend with an expected future payout ratio of 84.3%.

TC Energy Stock Performance

Shares of NYSE TRP opened at $48.02 on Friday. The company has a 50 day simple moving average of $46.54 and a two-hundred day simple moving average of $46.93. The stock has a market cap of $49.90 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 4.34 and a beta of 0.83. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. TC Energy has a 12 month low of $34.95 and a 12 month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same period in the previous year, the firm posted $1.35 earnings per share. As a group, analysts predict that TC Energy will post 2.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TRP. TD Securities initiated coverage on TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Royal Bank of Canada raised their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Finally, StockNews.com lowered TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.00.

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.