TC Energy Corporation (NYSE:TRP) to Issue Quarterly Dividend of C$0.88

TC Energy Corporation (NYSE:TRP) (TSE:TRP) announced a quarterly dividend on Thursday, July 30th. 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 is Tuesday, September 29th.

TC Energy has decreased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 1 years. TC Energy has a dividend 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 $2.91 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 Up 1.1%

Shares of TC Energy stock opened at $68.00 on Friday. TC Energy has a 1 year low of $46.93 and a 1 year high of $71.47. The company’s fifty day simple moving average is $68.45 and its 200-day simple moving average is $64.39. The company has a market cap of $70.86 billion, a price-to-earnings ratio of 29.52 and a beta of 0.66. 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 released its earnings results on Thursday, July 30th. The pipeline company reported $0.68 EPS 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 firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the prior year, the company earned $0.82 EPS. As a group, sell-side analysts expect that TC Energy will post 2.74 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.