TC Energy (NYSE:TRP) Announces Earnings Results

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

TC Energy Stock Performance

Shares of TC Energy stock opened at $46.05 on Friday. TC Energy has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The firm has a market cap of $47.85 billion, a P/E ratio of 12.76, a P/E/G ratio of 4.45 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The firm has a 50 day simple moving average of $46.65 and a 200 day simple moving average of $46.49.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.38%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio (DPR) is currently 63.43%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TRP shares. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. TD Securities assumed coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. The Goldman Sachs Group increased their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Finally, StockNews.com assumed coverage on shares of TC Energy in a research report on Wednesday, December 4th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus 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.