TC Energy (TSE:TRP) Sets New 52-Week High at $64.39

TC Energy Co. (TSE:TRP) (NYSE:TRP)’s stock price hit a new 52-week high on Wednesday . The company traded as high as C$64.39 and last traded at C$64.16, with a volume of 1383624 shares. The stock had previously closed at C$63.19.

Analyst Ratings Changes

A number of analysts have weighed in on TRP shares. Wells Fargo & Company increased their target price on shares of TC Energy from C$59.00 to C$64.00 in a report on Tuesday, June 4th. 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 report on Wednesday. BMO Capital Markets increased their target price on shares of TC Energy from C$57.00 to C$65.00 in a report on Thursday, September 5th. Jefferies Financial Group increased their target price on shares of TC Energy from C$52.00 to C$57.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Finally, ATB Capital increased their price objective on shares of TC Energy from C$56.00 to C$60.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 10th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, TC Energy has a consensus rating of “Moderate Buy” and a consensus target price of C$58.62.

TC Energy Stock Up 1.9 %

The stock’s 50-day moving average is C$60.50 and its 200-day moving average is C$55.25. The stock has a market cap of C$67.00 billion, a P/E ratio of 19.46, a price-to-earnings-growth ratio of 0.26 and a beta of 0.82. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.89 by C$0.05. The firm 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, research analysts anticipate that TC Energy Co. will post 4.5431472 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a $0.96 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.84 dividend on an annualized basis and a yield of 5.96%. TC Energy’s dividend payout ratio is presently 116.01%.

Insider Activity

In other news, Senior Officer Christine R. Johnston sold 16,292 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of C$59.71, for a total transaction of C$972,795.32. Following the completion of the transaction, the insider now owns 466 shares in the company, valued at approximately C$27,824.86. In other news, Senior Officer Christine R. Johnston sold 16,292 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of C$59.71, for a total transaction of C$972,795.32. Following the completion of the transaction, the insider now owns 466 shares in the company, valued at approximately C$27,824.86. Also, Senior Officer Dawn Elizabeth De Lima acquired 555 shares of TC Energy stock in a transaction dated Wednesday, September 18th. The shares were acquired at an average price of C$62.82 per share, with a total value of C$34,865.66. In the last quarter, insiders sold 95,479 shares of company stock worth $5,860,018. Corporate insiders own 0.04% of the company’s stock.

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.