TC Energy (NYSE:TRP) Sets New 52-Week High at $45.44

TC Energy Co. (NYSE:TRP) (TSE:TRP)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $45.44 and last traded at $45.44, with a volume of 2929 shares changing hands. The stock had previously closed at $45.07.

Analyst Ratings Changes

Separately, Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $44.67.

TC Energy Price Performance

The firm has a 50 day moving average price of $40.86 and a 200 day moving average price of $39.38. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57. The stock has a market cap of $47.20 billion, a P/E ratio of 23.23, a P/E/G ratio of 3.66 and a beta of 0.79.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter last year, the company earned $0.71 earnings per share. On average, analysts forecast that TC Energy Co. will post 3.04 EPS for the current fiscal year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be paid a $0.702 dividend. This represents a $2.81 annualized dividend and a dividend yield of 6.17%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is currently 144.85%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Canoe Financial LP raised its holdings in TC Energy by 781.8% in the fourth quarter. Canoe Financial LP now owns 704,176 shares of the pipeline company’s stock worth $27,526,000 after purchasing an additional 624,316 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of TC Energy during the 1st quarter valued at about $1,159,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of TC Energy by 15.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,109,055 shares of the pipeline company’s stock valued at $81,599,000 after purchasing an additional 278,886 shares in the last quarter. M&G Plc purchased a new position in TC Energy during the first quarter worth approximately $111,587,000. Finally, Cetera Investment Advisers grew its holdings in TC Energy by 74.1% in the first quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock valued at $3,972,000 after purchasing an additional 42,024 shares during the period. 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.