TC Energy (TSE:TRP) Sets New 52-Week High Following Analyst Upgrade

TC Energy Co. (TSE:TRP) (NYSE:TRP) reached a new 52-week high during mid-day trading 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. The stock had previously closed at C$66.42.

A number of other brokerages also recently issued reports on TRP. Veritas upgraded TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. BMO Capital Markets dropped 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. Royal Bank of Canada increased their price target on shares of TC Energy from C$66.00 to C$67.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. ATB Capital dropped their price objective on shares of TC Energy from C$60.00 to C$58.00 and set a “sector perform” rating for the company in a report on Thursday, October 3rd. Finally, UBS Group raised TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, TC Energy currently has a consensus rating of “Hold” and a consensus target price of C$60.58.

Insiders Place Their Bets

In other news, Director Colin Lindley sold 2,773 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of C$59.42, for a total transaction of C$164,761.40. Following the completion of the sale, the director now owns 697 shares of the company’s stock, valued at approximately C$41,413.16. This represents a 0.00 % decrease in their ownership of the stock. In related news, Director Jawad Masud sold 6,041 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of C$63.50, for a total transaction of C$383,603.50. Also, Director Colin Lindley sold 2,773 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of C$59.42, for a total value of C$164,761.40. Following the transaction, the director now directly owns 697 shares of the company’s stock, valued at C$41,413.16. The trade was a 0.00 % decrease in their position. Insiders have sold 95,479 shares of company stock valued at $5,860,018 in the last ninety days. Company insiders own 0.03% of the company’s stock.

TC Energy Stock Performance

The business has a fifty day moving average of C$62.29 and a 200 day moving average of C$56.25. The company has a market cap of C$68.15 billion, a P/E ratio of 19.80, a P/E/G ratio of 1.69 and a beta of 0.82. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings data 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. The business had revenue of C$4.09 billion during the quarter, compared to analyst estimates of C$3.78 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. On average, equities analysts predict that TC Energy Co. will post 3.5490515 EPS for the current year.

TC Energy Dividend Announcement

The business also recently disclosed 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 yield of 5.86%. TC Energy’s dividend payout ratio (DPR) is presently 116.01%.

TC Energy Company Profile

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.