Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Stockholders of record on Monday, September 30th will be given a dividend of 0.568 per share by the pipeline company on Thursday, October 31st. This represents a $2.27 annualized dividend and a dividend yield of 4.38%. The ex-dividend date is Friday, September 27th. This is an increase from Tc Pipelines’s previous quarterly dividend of $0.56.
Tc Pipelines has increased its dividend by an average of 7.8% annually over the last three years and has increased its dividend every year for the last 3 years.
Shares of Tc Pipelines stock remained flat at $$51.88 during trading on Wednesday. 956,637 shares of the stock traded hands, compared to its average volume of 1,425,529. The stock has a market capitalization of $48.23 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 2.86 and a beta of 0.75. Tc Pipelines has a 52-week low of $34.58 and a 52-week high of $52.69. The company’s 50 day moving average price is $49.87 and its 200-day moving average price is $48.46. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.40 and a current ratio of 0.44.
TRP has been the topic of several research analyst reports. CIBC reaffirmed an “average” rating and issued a $70.00 price target on shares of Tc Pipelines in a report on Sunday, August 4th. Credit Suisse Group cut shares of Tc Pipelines from an “outperform” rating to a “neutral” rating in a report on Wednesday, May 29th. Bank of America upped their target price on shares of Tc Pipelines from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. 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. Finally, Zacks Investment Research lowered shares of Tc Pipelines from a “buy” rating to a “hold” rating and set a $53.00 target price for the company. in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $61.43.
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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