Tc Pipelines Lp (NYSE:TRP) Plans $0.61 Quarterly Dividend

Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) declared a quarterly dividend on Friday, July 31st, Wall Street Journal reports. Stockholders of record on Wednesday, September 30th will be given a dividend of 0.6072 per share by the pipeline company on Friday, October 30th. This represents a $2.43 annualized dividend and a dividend yield of 5.33%. The ex-dividend date is Tuesday, September 29th.

Tc Pipelines has increased its dividend payment by an average of 31.7% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Tc Pipelines has a dividend payout ratio of 77.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Tc Pipelines to earn $3.03 per share next year, which means the company should continue to be able to cover its $2.26 annual dividend with an expected future payout ratio of 74.6%.

TRP stock opened at $45.60 on Friday. The firm has a 50 day moving average price of $43.48 and a 200-day moving average price of $47.02. Tc Pipelines has a 52-week low of $32.37 and a 52-week high of $57.92. The firm has a market capitalization of $42.77 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 3.77 and a beta of 0.72. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.49 and a current ratio of 0.51.

Tc Pipelines (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, July 30th. The pipeline company reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.23. Tc Pipelines had a net margin of 33.69% and a return on equity of 13.74%. The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period last year, the business earned $1.00 earnings per share. As a group, sell-side analysts forecast that Tc Pipelines will post 2.99 earnings per share for the current fiscal year.

TRP has been the subject of a number of recent analyst reports. Citigroup decreased their price objective on shares of Tc Pipelines from $75.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, June 17th. US Capital Advisors initiated coverage on shares of Tc Pipelines in a report on Friday, July 10th. They issued a “buy” rating for the company. Indl Alliance S upgraded shares of Tc Pipelines from a “hold” rating to a “buy” rating in a report on Monday, May 25th. Industrial Alliance Securities upgraded shares of Tc Pipelines to a “buy” rating and set a $70.00 price objective for the company in a report on Monday, May 25th. Finally, UBS Group boosted their price objective on shares of Tc Pipelines from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, April 6th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Tc Pipelines currently has a consensus rating of “Buy” and a consensus price target of $66.87.

About Tc Pipelines

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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Dividend History for Tc Pipelines (NYSE:TRP)

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