TC Energy (TSE:TRP) Reaches New 1-Year High After Analyst Upgrade

TC Energy Co. (TSE:TRP) (NYSE:TRP) reached a new 52-week high during mid-day trading on Monday after National Bankshares raised their price target on the stock from C$60.00 to C$65.00. National Bankshares currently has an outperform rating on the stock. TC Energy traded as high as C$61.60 and last traded at C$61.50, with a volume of 467547 shares traded. The stock had previously closed at C$60.89.

A number of other research firms have also issued reports on TRP. Wells Fargo & Company lifted their target price on shares of TC Energy from C$59.00 to C$64.00 in a report on Tuesday, June 4th. CIBC lifted their price target on TC Energy from C$56.00 to C$59.00 in a research report on Monday, July 15th. Jefferies Financial Group raised 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 research note on Monday, July 29th. Barclays upped their target price on shares of TC Energy from C$61.00 to C$64.00 in a research note on Monday, August 19th. Finally, BMO Capital Markets raised their price target on shares of TC Energy from C$55.00 to C$57.00 in a research report on Friday, August 2nd. Five equities research 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.com, TC Energy currently has a consensus rating of “Moderate Buy” and an average target price of C$57.77.

Insiders Place Their Bets

In related news, Senior Officer Christine R. Johnston sold 16,292 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of C$59.71, for a total value of C$972,795.32. Following the transaction, the insider now owns 466 shares in the company, valued at C$27,824.86. In related news, Director Richard Prior sold 5,000 shares of TC Energy stock in a transaction on Thursday, June 6th. The stock was sold at an average price of C$40.00, for a total transaction of C$200,000.00. Also, Senior Officer Christine R. Johnston sold 16,292 shares of the 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 directly owns 466 shares in the company, valued at approximately C$27,824.86. In the last quarter, insiders have sold 34,525 shares of company stock valued at $1,919,594. 0.04% of the stock is currently owned by corporate insiders.

TC Energy Stock Performance

The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. The company has a market cap of C$63.91 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 0.26 and a beta of 0.81. The stock has a 50-day moving average price of C$56.06 and a 200 day moving average price of C$53.76.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.89 by C$0.05. The company had revenue of C$4.09 billion during the quarter, compared to the consensus estimate 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, analysts anticipate that TC Energy Co. will post 4.3092199 EPS for the current fiscal 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 given a dividend of $0.96 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.84 annualized dividend and a yield of 6.25%. TC Energy’s dividend payout ratio (DPR) 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.