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

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on TRP. National Bank Financial boosted their target price 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. Barclays boosted their target price on TC Energy from C$88.00 to C$92.00 in a report on Monday, May 4th. Scotiabank lifted 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. Canadian Imperial Bank of Commerce lifted their price target on shares of TC Energy from C$89.00 to C$94.00 in a research report on Monday, May 4th. Finally, TD lifted their price target on shares of TC Energy from C$88.00 to C$90.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$87.46.

TC Energy Stock Up 1.5%

The company has a current ratio of 0.65, a quick ratio of 0.40 and a debt-to-equity ratio of 224.52. The firm’s 50 day simple moving average is C$87.45 and its 200-day simple moving average is C$81.18. The stock has a market capitalization of C$99.39 billion, a price-to-earnings ratio of 29.91, a price-to-earnings-growth ratio of 1.69 and a beta of 0.76.

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

Insider Activity

In other news, Director Trevor Ebl sold 5,000 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of C$93.45, for a total transaction of C$467,250.00. Also, insider Dawn Elizabeth De Lima sold 25,342 shares of the company’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of C$88.73, for a total transaction of C$2,248,595.66. Following the completion of the transaction, the insider owned 18,490 shares in the company, valued at approximately C$1,640,617.70. This represents a 57.82% decrease in their ownership of the stock. 0.03% of the stock is owned by insiders.

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.