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

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

Several other analysts have also recently issued reports on TRP. Royal Bank of Canada increased their target price on TC Energy from C$66.00 to C$67.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. National Bankshares reduced their price objective on shares of TC Energy from C$65.00 to C$60.00 and set an “outperform” rating on the stock in a research report on Thursday, October 3rd. 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. Scotiabank cut their target price on shares of 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. Finally, CIBC decreased their price target on shares of TC Energy from C$62.00 to C$57.00 and set a “negative” rating on the stock in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$60.50.

Insider Transactions at TC Energy

In other TC Energy news, Senior Officer Dawn Elizabeth De Lima purchased 545 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was purchased at an average price of C$63.06 per share, with a total value of C$34,367.70. In related news, Senior Officer Dawn Elizabeth De Lima bought 545 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were purchased at an average price of C$63.06 per share, with a total value of C$34,367.70. Also, Director Richard Prior sold 18,068 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of C$63.00, for a total value of C$1,138,284.00. Insiders have sold a total of 95,479 shares of company stock worth $5,860,018 in the last three months. Insiders own 0.03% of the company’s stock.

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 capitalization of C$67.69 billion, a P/E ratio of 19.66, a P/E/G ratio of 1.69 and a beta of 0.82. The firm’s fifty day moving average is C$62.03 and its 200 day moving average is C$56.09.

TC Energy (TSE:TRP) (NYSE:TRP) last released its earnings results on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of C$4.09 billion for the quarter, compared to analysts’ expectations of C$3.78 billion. As a group, analysts predict that TC Energy Co. will post 3.5490515 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a dividend of $0.96 per share. The ex-dividend date is Friday, September 27th. This represents a $3.84 annualized dividend and a dividend yield of 5.90%. TC Energy’s dividend payout ratio (DPR) 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.