TC Energy (TSE:TRP) Reaches New 12-Month High – What’s Next?

TC Energy Co. (TSE:TRP) (NYSE:TRP) shares reached a new 52-week high on Wednesday . The stock traded as high as C$82.63 and last traded at C$82.60, with a volume of 871206 shares trading hands. The stock had previously closed at C$81.09.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TRP shares. Jefferies Financial Group boosted their target price on shares of TC Energy from C$74.00 to C$80.00 in a research report on Wednesday, February 4th. Canadian Imperial Bank of Commerce raised their price target on shares of TC Energy from C$78.00 to C$81.00 in a research report on Wednesday, December 17th. TD Securities dropped their price objective on shares of TC Energy from C$81.00 to C$80.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Barclays increased their target price on shares of TC Energy from C$75.00 to C$80.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Finally, National Bank Financial lifted their target price on TC Energy from C$76.00 to C$85.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, TC Energy presently has a consensus rating of “Moderate Buy” and an average target price of C$80.60.

TC Energy Trading Up 1.9%

The business’s 50 day moving average price is C$76.60 and its 200-day moving average price is C$73.81. The company has a market cap of C$86.06 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 1.69 and a beta of 0.86. The company has a debt-to-equity ratio of 237.62, a quick ratio of 0.40 and a current ratio of 1.31.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its earnings results on Thursday, November 6th. The company reported C$0.77 earnings per share for the quarter. TC Energy had a net margin of 32.39% and a return on equity of 17.25%. The business had revenue of C$3.70 billion for the quarter. On average, research analysts forecast 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.