TC Energy Corporation (TRP) To Go Ex-Dividend on December 31st

TC Energy Corporation (NYSE:TRP) (TSE:TRP) announced a quarterly dividend on Tuesday, November 4th. Investors of record on Wednesday, December 31st will be given a dividend of 0.85 per share by the pipeline company on Friday, January 30th. This represents a c) dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Wednesday, December 31st. This is a 38.3% increase from TC Energy’s previous quarterly dividend of $0.61.

TC Energy has decreased its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 1 years. TC Energy has a payout ratio of 85.3% 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 Energy to earn $2.81 per share next year, which means the company should continue to be able to cover its $2.43 annual dividend with an expected future payout ratio of 86.5%.

TC Energy Stock Performance

Shares of TC Energy stock opened at $55.83 on Monday. The stock’s fifty day simple moving average is $53.31 and its 200 day simple moving average is $51.39. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $58.10 billion, a PE ratio of 24.06 and a beta of 0.70. TC Energy has a 12 month low of $43.51 and a 12 month high of $56.08.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.56. TC Energy had a return on equity of 10.61% and a net margin of 23.86%.The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same period in the prior year, the company earned $1.03 earnings per share. On average, research analysts predict that TC Energy will post 2.63 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of TC Energy by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 46,821,474 shares of the pipeline company’s stock valued at $2,545,777,000 after purchasing an additional 914,168 shares during the period. Capital Research Global Investors increased its position in TC Energy by 2.5% during the third quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company’s stock worth $2,282,469,000 after buying an additional 1,041,864 shares during the last quarter. Canada Pension Plan Investment Board increased its position in TC Energy by 5.9% during the second quarter. Canada Pension Plan Investment Board now owns 20,986,748 shares of the pipeline company’s stock worth $1,025,220,000 after buying an additional 1,178,190 shares during the last quarter. TD Asset Management Inc raised its stake in TC Energy by 2.9% in the third quarter. TD Asset Management Inc now owns 19,624,247 shares of the pipeline company’s stock valued at $1,067,246,000 after buying an additional 550,066 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of TC Energy by 2,565.1% in the first quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock valued at $769,815,000 after buying an additional 15,694,336 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

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.