Tc Pipelines Lp (NYSE:TRP) to Issue Quarterly Dividend of $0.56

Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.56 per share by the pipeline company on Wednesday, July 31st. This represents a $2.24 annualized dividend and a yield of 4.54%. The ex-dividend date is Thursday, June 27th.

Tc Pipelines has increased its dividend payment by an average of 7.8% per year over the last three years and has increased its dividend annually for the last 3 consecutive years.

Shares of TRP stock opened at $49.34 on Wednesday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.34 and a current ratio of 0.37. Tc Pipelines has a fifty-two week low of $34.58 and a fifty-two week high of $50.47. The business has a 50-day moving average price of $48.75. The firm has a market cap of $46.06 billion, a price-to-earnings ratio of 16.53, a P/E/G ratio of 3.32 and a beta of 0.81.

Tc Pipelines (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.04. The company had revenue of $2.62 billion during the quarter. Tc Pipelines had a return on equity of 13.72% and a net margin of 28.60%. As a group, sell-side analysts forecast that Tc Pipelines will post 2.98 earnings per share for the current fiscal year.

Several analysts have recently issued reports on TRP shares. Zacks Investment Research upgraded Tc Pipelines from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Tuesday, April 2nd. Credit Suisse Group downgraded Tc Pipelines from an “outperform” rating to a “neutral” rating in a research note on Wednesday, May 29th. Industrial Alliance Securities reiterated a “buy” rating on shares of Tc Pipelines in a research note on Monday, April 8th. GMP Securities reiterated a “buy” rating and set a $69.00 price target on shares of Tc Pipelines in a research note on Tuesday, April 30th. Finally, Scotiabank restated an “average” rating and set a $72.00 target price on shares of Tc Pipelines in a research note on Tuesday, May 28th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $54.14.

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.

Recommended Story: Fundamental Analysis and Choosing Stocks

Dividend History for Tc Pipelines (NYSE:TRP)

Receive News & Ratings for Tc Pipelines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tc Pipelines and related companies with MarketBeat.com's FREE daily email newsletter.