TC Energy (TSE:TRP) Hits New 1-Year High on Analyst Upgrade

TC Energy Co. (TSE:TRP) (NYSE:TRP) shares 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 company 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 have also recently weighed in on TRP. CIBC cut their price objective on shares of TC Energy from C$62.00 to C$57.00 and set a “negative” rating on the stock in a report on Wednesday, October 2nd. Royal Bank of Canada lifted their price objective on TC Energy from C$66.00 to C$67.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. BMO Capital Markets cut their target price on TC Energy from C$65.00 to C$55.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 2nd. ATB Capital dropped their price target on shares of TC Energy from C$60.00 to C$58.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 3rd. Finally, Scotiabank dropped their target price on shares of TC Energy from C$62.00 to C$61.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$60.58.

Insider Transactions at TC Energy

In other news, Senior Officer Dawn Elizabeth De Lima bought 545 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were acquired at an average cost of C$63.06 per share, with a total value of C$34,367.70. In related news, Director Rosemary K. Stevens sold 1,200 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of C$59.88, for a total value of C$71,856.00. Following the transaction, the director now directly owns 987 shares of the company’s stock, valued at approximately C$59,101.56. This trade represents a 0.00 % decrease in their position. Also, Senior Officer Dawn Elizabeth De Lima purchased 545 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were bought at an average cost of C$63.06 per share, with a total value of C$34,367.70. Insiders have sold a total of 95,479 shares of company stock worth $5,860,018 in the last ninety days. Insiders own 0.03% of the company’s stock.

TC Energy Trading Down 1.3 %

The stock has a 50-day moving average price of C$62.29 and a two-hundred day moving average price of C$56.25. The stock has a market capitalization of C$68.15 billion, a PE ratio of 19.80, a PEG ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, topping analysts’ consensus estimates 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%. As a group, equities analysts forecast that TC Energy Co. will post 3.5490515 earnings per share for the current year.

TC Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be paid a $0.96 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.84 dividend on an annualized basis and a yield of 5.86%. TC Energy’s payout ratio is presently 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.