TC Energy Co. (TSE:TRP) Raises Dividend to $1.11 Per Share

TC Energy Co. (TSE:TRP) (NYSE:TRP) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Tuesday, December 31st will be paid a dividend of 1.113 per share on Friday, January 31st. This represents a $4.45 dividend on an annualized basis and a yield of 6.56%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.96.

TC Energy Stock Performance

Shares of TRP stock opened at C$67.82 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84. The firm has a market capitalization of C$70.53 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 1.69 and a beta of 0.82. The stock has a fifty day moving average of C$63.74 and a 200 day moving average of C$57.67. TC Energy has a 52 week low of C$43.83 and a 52 week high of C$69.61.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 EPS for the quarter, beating the consensus estimate of C$0.97 by C$0.06. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. The business had revenue of C$4.08 billion during the quarter, compared to analyst estimates of C$3.90 billion. As a group, research analysts expect that TC Energy will post 3.5490515 earnings per share for the current year.

Insider Activity

In related news, Senior Officer Nancy Angenita Johnson sold 5,414 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of C$61.16, for a total value of C$331,133.78. In other news, Senior Officer Nancy Angenita Johnson sold 5,414 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of C$61.16, for a total transaction of C$331,133.78. Also, Director Richard Prior sold 18,068 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of C$63.00, for a total value of C$1,138,284.00. Insiders have sold a total of 76,114 shares of company stock valued at $4,704,641 in the last ninety days. Corporate insiders own 0.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TRP shares. National Bankshares raised their price target on TC Energy from C$60.00 to C$70.00 in a report on Friday. JPMorgan Chase & Co. reduced their price target on TC Energy from C$66.00 to C$60.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. Scotiabank lifted their price objective on TC Energy from C$68.00 to C$74.00 in a report on Friday. UBS Group upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. Finally, BMO Capital Markets lifted their price objective on TC Energy from C$55.00 to C$66.00 in a report on Friday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of “Hold” and an average target price of C$66.15.

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.