TC Energy (TSE:TRP) Sets New 52-Week High – Time to Buy?

TC Energy Co. (TSE:TRP) (NYSE:TRP)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$89.68 and last traded at C$88.60, with a volume of 961391 shares traded. The stock had previously closed at C$87.65.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. National Bank Financial increased their price objective on shares of TC Energy from C$85.00 to C$86.00 and gave the stock a “hold” rating in a research note on Tuesday, February 17th. Scotiabank increased their price target on shares of TC Energy from C$86.00 to C$93.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Jefferies Financial Group boosted their price objective on shares of TC Energy from C$80.00 to C$88.00 in a research report on Tuesday, February 17th. TD Securities cut TC Energy from a “buy” rating to a “hold” rating and raised their target price for the stock from C$84.00 to C$88.00 in a report on Tuesday, February 17th. Finally, ATB Cormark Capital Markets lifted their target price on TC Energy from C$73.00 to C$80.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 17th. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$84.00.

TC Energy Stock Performance

The company has a market cap of C$92.63 billion, a PE ratio of 27.22, a PEG ratio of 1.69 and a beta of 0.86. The company has a current ratio of 1.31, a quick ratio of 0.40 and a debt-to-equity ratio of 237.62. The business’s 50 day moving average is C$79.37 and its two-hundred day moving average is C$75.49.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings results on Friday, February 13th. The company reported C$0.98 EPS for the quarter. TC Energy had a return on equity of 17.25% and a net margin of 32.39%.The business had revenue of C$4.17 billion for the quarter. On average, equities research analysts anticipate that TC Energy Co. will post 3.5490515 EPS for the current year.

About TC Energy

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.