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

Tc Pipelines Lp (NYSE:TRP) (TSE:TRP) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Friday, June 28th will be given a dividend of 0.56 per share by the pipeline company on Wednesday, July 31st. This represents a $2.24 dividend on an annualized basis and a dividend 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 NYSE TRP opened at $49.34 on Wednesday. The stock’s 50 day simple moving average is $48.75. The firm has a market capitalization of $46.06 billion, a P/E ratio of 16.53, a PEG ratio of 3.32 and a beta of 0.81. The company has a current ratio of 0.37, a quick ratio of 0.34 and a debt-to-equity ratio of 1.58. Tc Pipelines has a twelve month low of $34.58 and a twelve month high of $50.47.

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

TRP has been the subject of several recent research reports. Scotiabank reiterated an “average” rating and issued a $72.00 price target on shares of Tc Pipelines in a research note on Tuesday, May 28th. GMP Securities reiterated a “buy” rating and issued a $71.00 price target on shares of Tc Pipelines in a research note on Tuesday, May 7th. Industrial Alliance Securities reiterated a “buy” rating on shares of Tc Pipelines in a research note on Monday, April 8th. 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. Finally, Credit Suisse Group cut Tc Pipelines from an “outperform” rating to a “neutral” rating in a research note on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Tc Pipelines currently has an average rating of “Hold” and a consensus target price of $54.14.

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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