TC Energy Co. (NYSE:TRP) Announces Quarterly Dividend of $0.85

TC Energy Co. (NYSE:TRP) (TSE:TRP) declared a quarterly dividend on Friday, February 14th,RTT News reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.85 per share by the pipeline company on Wednesday, April 30th. This represents a $3.40 annualized dividend and a yield of 7.18%. This is an increase from TC Energy’s previous quarterly dividend of $0.82.

TC Energy has raised its dividend payment by an average of 2.5% annually over the last three years. TC Energy has a payout ratio of 78.5% indicating that 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 $2.64 per share next year, which means the company should continue to be able to cover its $2.27 annual dividend with an expected future payout ratio of 86.0%.

TC Energy Trading Up 1.2 %

TC Energy stock opened at $47.38 on Friday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. TC Energy has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The stock has a market cap of $49.23 billion, a P/E ratio of 13.12, a PEG ratio of 4.45 and a beta of 0.81. The firm’s fifty day moving average price is $46.68 and its 200-day moving average price is $46.48.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TRP shares. BMO Capital Markets upped their target price on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group upped their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. StockNews.com started coverage on shares of TC Energy in a report on Wednesday, December 4th. They issued a “hold” rating on the stock. Finally, US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $56.00.

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.