TC Energy (TSE:TRP) Sets New 12-Month High at $63.99

TC Energy Co. (TSE:TRP) (NYSE:TRP)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as C$63.99 and last traded at C$63.85, with a volume of 50098 shares trading hands. The stock had previously closed at C$63.34.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. National Bankshares increased their price objective on shares of TC Energy from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. ATB Capital lifted their price objective on TC Energy from C$56.00 to C$60.00 and gave the company a “sector perform” rating in a research note on Tuesday. Wells Fargo & Company increased their target price on TC Energy from C$59.00 to C$64.00 in a research note on Tuesday, June 4th. Barclays lifted their target price on TC Energy from C$61.00 to C$64.00 in a research report on Monday, August 19th. Finally, BMO Capital Markets increased their price target on shares of TC Energy from C$57.00 to C$65.00 in a research report on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$58.69.

TC Energy Stock Down 2.5 %

The firm’s fifty day simple moving average is C$58.43 and its 200 day simple moving average is C$54.61. The company has a market cap of C$64.78 billion, a price-to-earnings ratio of 18.82, a PEG 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 issued its earnings results on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of C$4.09 billion during the quarter, compared to the consensus estimate of C$3.78 billion. Sell-side analysts predict that TC Energy Co. will post 4.4633124 earnings per share for the current year.

TC Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 6.16%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is presently 116.01%.

Insider Activity at TC Energy

In related news, Director Kevin B. Engel sold 546 shares of TC Energy stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of C$53.53, for a total transaction of C$29,227.38. In other news, Director Kevin B. Engel sold 546 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of C$53.53, for a total value of C$29,227.38. Also, Director Greg Grant sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of C$62.62, for a total value of C$751,384.80. Insiders sold 65,152 shares of company stock valued at $3,945,326 over the last three months. 0.04% of the stock is owned by corporate insiders.

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.