TC Energy (TSE:TRP) Reaches New 1-Year High – Here’s Why

TC Energy Co. (TSE:TRP) (NYSE:TRP) shares reached a new 52-week high on Tuesday . The company traded as high as C$95.85 and last traded at C$95.65, with a volume of 669201 shares traded. The stock had previously closed at C$94.00.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TRP shares. Royal Bank Of Canada upped their price target on TC Energy from C$92.00 to C$95.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. TD Securities cut TC Energy from a “buy” rating to a “hold” rating and upped their price target for the stock from C$84.00 to C$88.00 in a report on Tuesday, February 17th. National Bank Financial upped their price target on TC Energy from C$86.00 to C$92.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. The Goldman Sachs Group upgraded TC Energy from a “sell” rating to a “hold” rating and set a C$62.00 target price on the stock in a report on Sunday, April 19th. Finally, Citigroup increased their target price on TC Energy from C$86.00 to C$95.00 and gave the company a “neutral” rating in a report on Tuesday, March 31st. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, TC Energy has a consensus rating of “Hold” and a consensus target price of C$87.46.

TC Energy Stock Up 1.5%

The firm has a 50 day moving average price of C$87.45 and a two-hundred day moving average price of C$81.18. The company has a quick ratio of 0.40, a current ratio of 0.65 and a debt-to-equity ratio of 224.52. The company has a market capitalization of C$99.39 billion, a price-to-earnings ratio of 29.91, a P/E/G ratio of 1.69 and a beta of 0.76.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings results on Friday, May 1st. The company reported C$0.99 EPS for the quarter. TC Energy had a return on equity of 12.53% and a net margin of 21.83%.The business had revenue of C$3.86 billion during the quarter. As a group, sell-side analysts expect that TC Energy Co. will post 3.5490515 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Dawn Elizabeth De Lima sold 25,342 shares of TC Energy stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of C$88.73, for a total transaction of C$2,248,595.66. Following the sale, the insider owned 18,490 shares of the company’s stock, valued at approximately C$1,640,617.70. The trade was a 57.82% decrease in their ownership of the stock. Also, Director Trevor Ebl sold 5,000 shares of TC Energy stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of C$93.45, for a total value of C$467,250.00. Insiders own 0.03% of the company’s stock.

TC Energy Company Profile

TC Energy Corp operates as an energy infrastructure company, consisting of pipeline and power generation assets in Canada, the United States, and Mexico. Its pipeline network consists of over 92,600 kilometers (57,500 miles) of natural gas pipeline, along with 4,900 kilometers (3,000) miles) from the Keystone Pipeline system. The company also owns or has interests in 11 power-generation facilities with a capacity of 6,600 megawatts.