Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Friday, June 28th will be paid a dividend of 0.56 per share by the pipeline company on Wednesday, July 31st. This represents a $2.24 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend is Thursday, June 27th.
Tc Pipelines has raised its dividend payment by an average of 7.8% per year over the last three years and has increased its dividend every year for the last 3 years.
Shares of TRP stock traded down $0.23 on Tuesday, hitting $49.36. 9,974 shares of the company’s stock were exchanged, compared to its average volume of 1,454,646. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.34 and a current ratio of 0.37. Tc Pipelines has a 12 month low of $34.58 and a 12 month high of $50.47. The company has a market capitalization of $46.08 billion, a PE ratio of 16.65, a P/E/G ratio of 3.34 and a beta of 0.81. The stock’s 50 day moving average is $48.69.
Tc Pipelines (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.04. Tc Pipelines had a return on equity of 13.72% and a net margin of 28.60%. The business had revenue of $2.62 billion during the quarter. As a group, analysts predict that Tc Pipelines will post 2.98 EPS for the current fiscal year.
Several brokerages recently weighed in on TRP. Zacks Investment Research upgraded Tc Pipelines from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Tuesday, April 2nd. Industrial Alliance Securities restated a “buy” rating on shares of Tc Pipelines in a research report on Monday, April 8th. Credit Suisse Group downgraded Tc Pipelines from an “outperform” rating to a “neutral” rating in a research report on Wednesday, May 29th. GMP Securities reiterated a “buy” rating and issued a $71.00 target price on shares of Tc Pipelines in a research report on Tuesday, May 7th. Finally, Scotiabank reiterated an “average” rating and issued a $72.00 target price on shares of Tc Pipelines in a research report on Tuesday, May 28th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $54.14.
Tc Pipelines Company Profile
TC Energy Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Energy segments. The company transports natural gas to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, and other businesses.
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