TC Energy (NYSE:TRP) Sets New 1-Year High – Still a Buy?

TC Energy Corporation (NYSE:TRP) (TSE:TRP) shares hit a new 52-week high on Tuesday . The company traded as high as $69.46 and last traded at $69.2430, with a volume of 2262268 shares changing hands. The stock had previously closed at $68.24.

Analyst Upgrades and Downgrades

TRP has been the subject of several recent research reports. Barclays restated an “overweight” rating on shares of TC Energy in a report on Monday, May 4th. Wells Fargo & Company restated an “overweight” rating on shares of TC Energy in a report on Monday, February 16th. Royal Bank Of Canada boosted their price target on shares of TC Energy from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Morgan Stanley restated an “overweight” rating on shares of TC Energy in a report on Wednesday, January 28th. Finally, TD Securities restated a “hold” rating on shares of TC Energy in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.50.

TC Energy Stock Performance

The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.57 and a current ratio of 0.65. The firm has a market cap of $69.24 billion, a P/E ratio of 30.05 and a beta of 0.67. The firm’s fifty day moving average price is $63.69 and its 200 day moving average price is $58.92.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same quarter in the previous year, the business posted $0.95 EPS. Sell-side analysts expect that TC Energy Corporation will post 2.75 EPS for the current fiscal year.

TC Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be paid a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Tuesday, June 30th. TC Energy’s payout ratio is 109.57%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of TC Energy during the 4th quarter worth approximately $25,000. Sterling Capital Management LLC bought a new position in shares of TC Energy during the 1st quarter worth approximately $26,000. Trust Co. of Vermont bought a new position in shares of TC Energy during the 4th quarter worth approximately $28,000. Westside Investment Management Inc. raised its stake in shares of TC Energy by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 297 shares in the last quarter. Finally, McIlrath & Eck LLC bought a new position in shares of TC Energy during the 4th quarter worth approximately $32,000. Institutional investors own 83.13% of the company’s stock.

About TC Energy

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long?distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.