TC Energy (TSE:TRP) Hits New 1-Year High – Should You Buy?

TC Energy Co. (TSE:TRP) (NYSE:TRP)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$70.02 and last traded at C$69.99, with a volume of 184113 shares trading hands. The stock had previously closed at C$69.05.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TRP shares. UBS Group raised TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. ATB Capital lifted their price objective on shares of TC Energy from C$64.00 to C$65.00 in a research report on Friday, November 8th. Morgan Joseph raised shares of TC Energy from an “underweight” rating to an “overweight” rating and increased their target price for the company from C$62.00 to C$78.00 in a research report on Friday, October 25th. CIBC lifted their price target on shares of TC Energy from C$66.00 to C$67.00 in a report on Friday, November 8th. Finally, Jefferies Financial Group upped their price objective on TC Energy from C$57.00 to C$66.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$66.15.

TC Energy Stock Performance

The business has a 50 day moving average of C$64.34 and a 200-day moving average of C$58.40. The company has a market capitalization of C$72.46 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.97 by C$0.06. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. The business had revenue of C$4.08 billion during the quarter, compared to analyst estimates of C$3.90 billion. On average, sell-side analysts predict that TC Energy Co. will post 3.5490515 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $1.113 dividend. The ex-dividend date is Tuesday, December 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.96. This represents a $4.45 annualized dividend and a yield of 6.39%. TC Energy’s dividend payout ratio is currently 116.01%.

Insider Activity

In other TC Energy news, Director Colin Lindley sold 3,194 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of C$68.70, for a total value of C$219,425.56. Following the completion of the transaction, the director now owns 697 shares of the company’s stock, valued at C$47,883.41. The trade was a 82.09 % decrease in their position. Also, Director Jessica A. Kirstine sold 3,394 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of C$69.00, for a total transaction of C$234,186.00. Following the sale, the director now owns 725 shares in the company, valued at approximately C$50,025. This trade represents a 82.40 % decrease in their position. Insiders sold 85,970 shares of company stock worth $5,502,955 in the last three months. Corporate insiders own 0.03% 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.