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

TC Energy Corporation (NYSE:TRP) (TSE:TRP) declared a quarterly dividend on Thursday, July 30th. Investors of record on Tuesday, September 29th will be given a dividend of 0.8775 per share by the pipeline company on Friday, October 30th. This represents a c) annualized dividend and a yield of 5.2%. The ex-dividend date is Tuesday, September 29th.

TC Energy has decreased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. TC Energy has a payout ratio of 86.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect TC Energy to earn $2.89 per share next year, which means the company should continue to be able to cover its $2.47 annual dividend with an expected future payout ratio of 85.5%.

TC Energy Trading Up 1.1%

NYSE:TRP traded up $0.72 during mid-day trading on Thursday, reaching $68.00. The company’s stock had a trading volume of 1,775,772 shares, compared to its average volume of 2,530,459. The company’s fifty day simple moving average is $68.50 and its two-hundred day simple moving average is $64.29. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57. TC Energy has a twelve month low of $46.93 and a twelve month high of $71.47. The stock has a market cap of $70.86 billion, a P/E ratio of 29.52 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the previous year, the business earned $0.95 EPS. On average, equities analysts predict that TC Energy will post 2.72 EPS for the current year.

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.