TC Energy (NYSE:TRP) Reaches New 1-Year High – What’s Next?

TC Energy Co. (NYSE:TRP) (TSE:TRP) shares reached a new 52-week high during trading on Monday . The company traded as high as $48.21 and last traded at $47.98, with a volume of 49295 shares trading hands. The stock had previously closed at $48.10.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TRP shares. StockNews.com assumed coverage on TC Energy in a research note on Saturday, October 5th. They set a “hold” rating for the company. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Finally, Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.50.

TC Energy Trading Down 0.9 %

The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. The company has a market capitalization of $49.50 billion, a P/E ratio of 19.71, a PEG ratio of 3.98 and a beta of 0.81. The company’s fifty day simple moving average is $45.87 and its 200-day simple moving average is $41.24.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.29. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same period last year, the company posted $0.71 earnings per share. Research analysts predict that TC Energy Co. will post 3.02 earnings per share for the current year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a dividend of $0.702 per share. This represents a $2.81 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is currently 116.80%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. EdgeRock Capital LLC acquired a new position in TC Energy during the 2nd quarter valued at about $25,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 429 shares during the period. Blue Trust Inc. increased its stake in shares of TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 267 shares in the last quarter. Mather Group LLC. acquired a new position in TC Energy in the 2nd quarter worth about $33,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of TC Energy in the second quarter valued at approximately $51,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

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.