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

TC Energy Co. (TSE:TRP) (NYSE:TRP) shares reached a new 52-week high during mid-day trading 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 trading hands. The stock had previously closed at C$62.81.

Several other equities research analysts also recently weighed in on the company. Jefferies Financial Group raised their price target on TC Energy from C$57.00 to C$66.00 and gave the stock a “hold” rating in a report on Monday, September 30th. 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 report on Thursday, October 3rd. UBS Group raised TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. National Bankshares cut their price objective on TC Energy from C$65.00 to C$60.00 and set an “outperform” rating for the company in a research report on Thursday, October 3rd. Finally, Scotiabank cut their price objective on TC Energy from C$62.00 to C$61.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. Two equities 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’s stock. Based on data from MarketBeat.com, TC Energy has an average rating of “Hold” and an average price target of C$59.46.

Insider Transactions at TC Energy

In related news, Senior Officer Dawn Elizabeth De Lima purchased 545 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was bought at an average cost of C$63.06 per share, with a total value of C$34,367.70. In other news, Senior Officer Dawn Elizabeth De Lima purchased 545 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was bought at an average cost of C$63.06 per share, for a total transaction of C$34,367.70. Also, Director Richard Prior sold 18,068 shares of the company’s stock in a transaction dated 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 sold a total of 95,479 shares of company stock valued at $5,860,018 over the last three months. 0.04% of the stock is currently owned by insiders.

TC Energy Price Performance

The company has a 50-day moving average price of C$61.81 and a two-hundred day moving average price of C$55.94. 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 company has a market cap 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 earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, topping the consensus estimate of C$0.89 by C$0.05. The company had revenue of C$4.09 billion during the quarter, compared to the consensus estimate of C$3.78 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. Sell-side analysts expect that TC Energy Co. will post 4.4244068 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued 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 dividend 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.