TC Energy (TSE:TRP) Hits New 52-Week High on Analyst Upgrade

TC Energy Co. (TSE:TRP) (NYSE:TRP)’s stock price reached a new 52-week high on Monday after Barclays raised their price target on the stock from C$66.00 to C$67.00. The stock traded as high as C$66.70 and last traded at C$65.46, with a volume of 517266 shares changing hands. The stock had previously closed at C$66.42.

A number of other equities analysts have also recently commented on the stock. UBS Group raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. BMO Capital Markets reduced their target price on shares of TC Energy from C$65.00 to C$55.00 and set a “market perform” rating for the company in a research report on Wednesday, October 2nd. CIBC dropped their price target on TC Energy from C$62.00 to C$57.00 and set a “negative” rating for the company in a research note on Wednesday, October 2nd. Royal Bank of Canada boosted their price target on TC Energy from C$66.00 to C$67.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Finally, Scotiabank dropped their price target on TC Energy from C$62.00 to C$61.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$60.58.

Insider Transactions at TC Energy

In related news, Director Richard Prior sold 3,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of C$44.00, for a total value of C$132,000.00. In other news, Senior Officer Patrick M. Keys sold 17,127 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of C$62.71, for a total transaction of C$1,074,049.58. Also, Director Richard Prior sold 3,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of C$44.00, for a total value of C$132,000.00. Insiders have sold 95,479 shares of company stock valued at $5,860,018 over the last ninety days. 0.03% of the stock is owned by company insiders.

TC Energy Price Performance

The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76. The company has a market cap of C$68.14 billion, a P/E ratio of 19.79, a P/E/G ratio of 1.69 and a beta of 0.82. The firm has a 50 day moving average price of C$62.53 and a two-hundred day moving average price of C$56.40.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its earnings results on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, topping the consensus estimate of C$0.89 by C$0.05. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. The business had revenue of C$4.09 billion during the quarter, compared to the consensus estimate of C$3.78 billion. On average, analysts predict that TC Energy Co. will post 3.5490515 EPS for the current fiscal year.

TC Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a $0.96 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.84 annualized dividend and a dividend yield of 5.86%. TC Energy’s payout ratio is currently 116.01%.

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.