TC Energy Co. (NYSE:TRP – Get Rating) (TSE:TRP) declared a quarterly dividend on Friday, April 29th, Zacks reports. Shareholders of record on Thursday, June 30th will be given a dividend of 0.72 per share by the pipeline company on Friday, July 29th. This represents a $2.88 annualized dividend and a yield of 5.44%. The ex-dividend date is Wednesday, June 29th. This is an increase from TC Energy’s previous quarterly dividend of $0.71.
TC Energy has increased its dividend by an average of 10.0% per year over the last three years and has raised its dividend every year for the last 1 years. TC Energy has a payout ratio of 82.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect TC Energy to earn $3.59 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 80.2%.
Shares of TC Energy stock traded down $3.15 on Friday, reaching $52.90. 3,014,485 shares of the company were exchanged, compared to its average volume of 1,376,579. TC Energy has a 1-year low of $44.77 and a 1-year high of $59.06. The company has a market cap of $51.91 billion, a P/E ratio of 35.27, a price-to-earnings-growth ratio of 4.04 and a beta of 0.71. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.57 and a quick ratio of 0.51. The stock’s 50 day moving average price is $55.92 and its 200-day moving average price is $51.96.
Hedge funds and other institutional investors have recently modified their holdings of the business. NEXT Financial Group Inc lifted its stake in TC Energy by 35.5% in the fourth quarter. NEXT Financial Group Inc now owns 1,694 shares of the pipeline company’s stock valued at $79,000 after buying an additional 444 shares during the last quarter. Autumn Glory Partners LLC purchased a new stake in TC Energy in the fourth quarter valued at approximately $313,000. Schonfeld Strategic Advisors LLC purchased a new stake in TC Energy in the fourth quarter valued at approximately $1,099,000. Cubist Systematic Strategies LLC purchased a new stake in TC Energy in the fourth quarter valued at approximately $1,706,000. Finally, Stifel Financial Corp lifted its stake in TC Energy by 9.5% in the fourth quarter. Stifel Financial Corp now owns 222,587 shares of the pipeline company’s stock valued at $10,360,000 after buying an additional 19,403 shares during the last quarter. Institutional investors own 68.61% of the company’s stock.
TRP has been the subject of a number of analyst reports. Credit Suisse Group reissued a “neutral” rating on shares of TC Energy in a research report on Tuesday, February 8th. Morgan Stanley downgraded TC Energy from an “equal weight” rating to an “underweight” rating and set a $78.00 price objective for the company. in a research report on Tuesday. They noted that the move was a valuation call. Scotiabank boosted their price objective on TC Energy from C$72.00 to C$78.00 in a research report on Wednesday, April 13th. CIBC cut TC Energy from a “sector outperform” rating to a “neutral” rating in a research note on Wednesday, February 16th. Finally, Raymond James cut TC Energy from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, February 16th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $67.17.
About TC Energy (Get Rating)
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 Storage. The company builds and operates 93,300 km network 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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