TC Energy (NYSE:TRP) Sets New 1-Year High - Time to Buy?

Key Points

• TC Energy shares hit a new 52-week high, reaching $55.37 before closing at $54.85, but the stock is currently down 1.2%.
• Analysts have varied opinions on TC Energy, with ratings ranging from "Strong Buy" to "Sell", leading to an average rating of "Moderate Buy" and a consensus price target of $62.00.
• The company recently increased its quarterly dividend to $0.6148, offering an annualized yield of 4.5% and maintaining a payout ratio of 84.30%.

TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP shares reached a new 52-week high on Monday . The stock traded as high as $55.37 and last traded at $54.85, with a volume of 15613 shares traded. The stock had previously closed at $55.11.

Analysts Set New Price Targets

TRP has been the topic of a number of recent research reports. US Capital Advisors cut shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research note on Thursday, August 21st. Barclays reiterated an "overweight" rating on shares of TC Energy in a research note on Thursday, August 14th. Wall Street Zen lowered TC Energy from a "hold" rating to a "sell" rating in a report on Friday. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of TC Energy in a research note on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Stock Down 1.2%

The stock's fifty day moving average price is $51.37 and its 200 day moving average price is $49.62. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54. The stock has a market cap of $56.66 billion, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 5.29 and a beta of 0.75.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.03. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The business had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $2.56 billion. During the same period last year, the business earned $0.79 earnings per share. As a group, research analysts forecast that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be issued a $0.6148 dividend. This is a boost from TC Energy's previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.46 dividend on an annualized basis and a yield of 4.5%. TC Energy's payout ratio is 84.30%.

Institutional Trading of TC Energy

Large investors have recently modified their holdings of the business. Hilltop National Bank bought a new position in TC Energy during the 2nd quarter valued at approximately $32,000. Harbor Asset Planning Inc. bought a new position in shares of TC Energy during the second quarter valued at approximately $43,000. TruNorth Capital Management LLC bought a new position in shares of TC Energy during the first quarter valued at approximately $45,000. Truvestments Capital LLC purchased a new stake in TC Energy in the first quarter worth $45,000. Finally, Sagard Holdings Management Inc. bought a new stake in TC Energy in the second quarter valued at $46,000. 83.13% of the stock is owned by institutional investors.

About TC Energy

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.

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