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

TC Energy Co. (TSE:TRP) (NYSE:TRP)’s share price hit a new 52-week high on Tuesday after Jefferies Financial Group raised their price target on the stock from C$57.00 to C$66.00. Jefferies Financial Group currently has a hold rating on the stock. TC Energy traded as high as C$65.40 and last traded at C$65.23, with a volume of 4428918 shares trading hands. The stock had previously closed at C$64.29.

Several other analysts have also recently commented on the company. BMO Capital Markets raised their target price on TC Energy from C$57.00 to C$65.00 in a research report on Thursday, September 5th. CIBC increased their price target on shares of TC Energy from C$56.00 to C$59.00 in a research report on Monday, July 15th. ATB Capital upped their price objective on shares of TC Energy from C$56.00 to C$60.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 10th. Wells Fargo & Company lifted their target price on shares of TC Energy from C$59.00 to C$64.00 in a research note on Tuesday, June 4th. Finally, National Bankshares upped their price target on shares of TC Energy from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, TC Energy presently has a consensus rating of “Moderate Buy” and an average price target of C$59.31.

Insiders Place Their Bets

In other TC Energy news, Senior Officer Christine R. Johnston sold 16,292 shares of the company’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 sale, the insider now directly owns 466 shares of the company’s stock, valued at C$27,824.86. In related news, Director Colin Lindley sold 2,773 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of C$59.42, for a total value of C$164,761.40. Following the completion of the transaction, the director now owns 697 shares in the company, valued at approximately C$41,413.16. Also, 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 value 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. Insiders sold 95,479 shares of company stock worth $5,860,018 over the last three months. 0.04% of the stock is currently owned by corporate insiders.

TC Energy Stock Up 1.5 %

The firm has a market cap of C$67.84 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 0.26 and a beta of 0.82. The firm’s 50 day moving average is C$61.15 and its two-hundred day moving average is C$55.51. 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 EPS for the quarter, topping the consensus estimate of C$0.89 by C$0.05. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The business had revenue of C$4.09 billion during the quarter, compared to analysts’ expectations of C$3.78 billion. As a group, research analysts anticipate that TC Energy Co. will post 4.5431472 EPS for the current fiscal year.

TC Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be paid a dividend of $0.96 per share. The ex-dividend date is Friday, September 27th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 5.89%. TC Energy’s dividend payout ratio (DPR) 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.