TC Energy (NYSE:TRP) Issues Quarterly Earnings Results

TC Energy (NYSE:TRP) (TSE:TRP) posted its earnings results on Friday. The pipeline company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54, RTT News reports. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. During the same period last year, the business posted $1.35 earnings per share.

TC Energy Price Performance

TRP traded down $1.62 on Friday, hitting $45.78. 1,678,205 shares of the company’s stock traded hands, compared to its average volume of 2,076,173. The company’s 50 day simple moving average is $46.65 and its 200-day simple moving average is $46.49. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. TC Energy has a one year low of $31.83 and a one year high of $50.37. The firm has a market cap of $47.57 billion, a price-to-earnings ratio of 12.69, a P/E/G ratio of 4.45 and a beta of 0.81.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.85 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.43%. TC Energy’s dividend payout ratio is 63.43%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. BMO Capital Markets raised their target price on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. StockNews.com assumed coverage on shares of TC Energy in a research note on Wednesday, December 4th. They issued a “hold” rating on the stock. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Finally, The Goldman Sachs Group lifted their target price on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, TC Energy presently has an average rating of “Hold” and a consensus target price of $56.00.

About TC Energy

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 Energy Solutions. The company builds and operates a network of 93,600 kilometers 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.