TC Energy ( (TSE:TRP) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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TC Energy shares came under pressure as investors questioned how sustainable the company’s rich shareholder payouts are in a higher-rate environment and amid ongoing capital needs. The stock’s slide comes even as the board approved a higher quarterly common dividend of C$0.8775 per share, or C$3.51 annualized.
The dividend, payable April 30 to shareholders of record on March 31, marks TC Energy’s 26th straight year of raising its payout. While the steady increases highlight management’s confidence in future cash flows, markets appear more focused on balance-sheet risks and long-term funding costs, weighing on the share price.
More about TC Energy
YTD Price Performance: 10.74%
Average Trading Volume: 2,160,709
Technical Sentiment Signal: Buy
Current Market Cap: $63.19B
For further insights into TRP stock on TipRanks’ Stock Analysis page.
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