TC Energy (TSE:TRP) Sets New 12-Month High at $60.25

TC Energy Co. (TSE:TRP) (NYSE:TRP)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as C$60.25 and last traded at C$60.10, with a volume of 541577 shares changing hands. The stock had previously closed at C$60.19.

Wall Street Analyst Weigh In

TRP has been the subject of several recent research reports. ATB Capital boosted their price objective on TC Energy from C$54.00 to C$56.00 in a report on Wednesday, July 24th. Jefferies Financial Group upped their price objective 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. JPMorgan Chase & Co. lifted their price objective on shares of TC Energy from C$58.00 to C$59.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from C$55.00 to C$61.00 in a research note on Wednesday, July 17th. Finally, National Bankshares increased their price objective on TC Energy from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, TC Energy currently has a consensus rating of “Moderate Buy” and an average price target of C$57.15.

TC Energy Stock Performance

The firm has a market cap of C$62.28 billion, a PE ratio of 23.15, a PEG ratio of 0.26 and a beta of 0.74. The company has a quick ratio of 0.40, a current ratio of 0.94 and a debt-to-equity ratio of 163.01. The company has a 50-day simple moving average of C$55.00 and a two-hundred day simple moving average of C$53.30.

TC Energy Announces Dividend

The business 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 dividend yield of 6.41%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is currently 147.69%.

Insider Activity at TC Energy

In other news, Director Rosemary K. Stevens sold 1,200 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of C$59.88, for a total transaction of C$71,856.00. Following the completion of the transaction, the director now directly owns 987 shares of the company’s stock, valued at approximately C$59,101.56. In other TC Energy news, Director Richard Prior sold 5,000 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of C$40.00, for a total transaction of C$200,000.00. Also, Director Rosemary K. Stevens sold 1,200 shares of TC Energy stock in a transaction dated Monday, August 12th. The stock was sold at an average price of C$59.88, for a total transaction of C$71,856.00. Following the completion of the transaction, the director now owns 987 shares of the company’s stock, valued at approximately C$59,101.56. Over the last 90 days, insiders sold 27,441 shares of company stock worth $1,527,150. 0.04% of the stock is owned by company insiders.

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.