TC Energy Corporation (TRP) to Issue Quarterly Dividend of C$0.88 on October 30th

TC Energy Corporation (NYSE:TRP) (TSE:TRP) announced a quarterly dividend on Wednesday, July 29th. Stockholders 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 dividend yield of 5.2%. The ex-dividend date of this dividend is Tuesday, September 29th.

TC Energy has decreased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. TC Energy has a dividend payout ratio of 86.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect TC Energy to earn $2.91 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 84.9%.

TC Energy Trading Down 0.7%

Shares of TRP traded down $0.48 during mid-day trading on Friday, reaching $67.61. The company’s stock had a trading volume of 523,788 shares, compared to its average volume of 2,516,975. TC Energy has a 52 week low of $46.93 and a 52 week high of $71.47. The stock has a market cap of $70.44 billion, a PE ratio of 29.34 and a beta of 0.66. The company’s fifty day moving average price is $68.45 and its two-hundred day moving average price is $64.39. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 1.67.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.07. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the company posted $0.82 EPS. On average, analysts predict that TC Energy will post 2.74 earnings per share for the current fiscal year.

TC Energy Company Profile

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.