TC Energy (TSE:TRP) Sets New 12-Month High Following Analyst Upgrade

TC Energy Co. (TSE:TRP) (NYSE:TRP) shares hit a new 52-week high during trading on Tuesday after Barclays raised their price target on the stock from C$64.00 to C$66.00. The company traded as high as C$64.34 and last traded at C$64.20, with a volume of 1281829 shares trading hands. The stock had previously closed at C$62.81.

Several other equities analysts have also weighed in on the stock. Veritas upgraded shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. cut their target price on shares of TC Energy from C$66.00 to C$60.00 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. National Bankshares cut their target price on shares of TC Energy from C$65.00 to C$60.00 and set an “outperform” rating on the stock in a report on Thursday, October 3rd. Finally, ATB Capital cut their target price on shares of TC Energy from C$60.00 to C$58.00 and set a “sector perform” rating on the stock in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$59.46.

Insider Buying and Selling at TC Energy

In related news, Senior Officer Christine R. Johnston sold 16,292 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of C$59.71, for a total transaction of C$972,795.32. Following the completion of the sale, the insider now owns 466 shares in the company, valued at approximately C$27,824.86. This trade represents a 0.00 % decrease in their ownership of the stock. In other news, Senior Officer Christine R. Johnston sold 16,292 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of C$59.71, for a total value of C$972,795.32. Following the completion of the transaction, the insider now directly owns 466 shares in the company, valued at approximately C$27,824.86. This trade represents a 0.00 % decrease in their ownership of the stock. Also, Director Richard Prior sold 18,068 shares of TC Energy stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of C$63.00, for a total transaction of C$1,138,284.00. Over the last three months, insiders have sold 95,479 shares of company stock valued at $5,860,018. Corporate insiders own 0.04% of the company’s stock.

TC Energy Trading Up 2.8 %

The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. The firm’s 50 day moving average is C$61.81 and its 200 day moving average is C$55.94. The company has a market capitalization of C$67.12 billion, a PE ratio of 19.48, a P/E/G ratio of 0.26 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.89 by C$0.05. The business had revenue of C$4.09 billion for the quarter, compared to the consensus estimate of C$3.78 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. As a group, equities analysts predict that TC Energy Co. will post 4.4244068 EPS for the current year.

TC Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 5.95%. The ex-dividend date is Friday, September 27th. TC Energy’s payout ratio is 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.