TC Energy (TSE:TRP) Hits New 1-Year High - Time to Buy?

Key Points

• TC Energy's shares reached a new 52-week high of C$75.72, indicating a strong performance in the stock market.
• The company announced a quarterly dividend of $0.85 per share, representing an annualized dividend yield of 4.5%.
• Insider transactions showed significant selling by directors, with one director reducing their holdings by 76.92% following the sale of 40,000 shares.

TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP shares reached a new 52-week high on Tuesday . The company traded as high as C$75.72 and last traded at C$75.67, with a volume of 6841553 shares traded. The stock had previously closed at C$74.38.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TRP shares. US Capital Advisors lowered shares of TC Energy from a "moderate buy" rating to a "hold" rating in a report on Thursday, August 21st. National Bankshares boosted their price target on shares of TC Energy from C$75.00 to C$76.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Jefferies Financial Group reduced their target price on shares of TC Energy from C$71.00 to C$68.00 in a research note on Wednesday, July 23rd. Barclays upped their target price on shares of TC Energy from C$74.00 to C$75.00 in a research note on Thursday, August 14th. Finally, Citigroup set a C$75.00 price target on shares of TC Energy and gave the company a "neutral" rating in a research report on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$74.46.

TC Energy Price Performance

The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40. The firm has a market cap of C$78.67 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 1.69 and a beta of 0.92. The firm has a 50-day simple moving average of C$70.17 and a 200 day simple moving average of C$68.49.

TC Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.5%. TC Energy's payout ratio is currently 85.36%.

Insider Buying and Selling

In other news, Director Siim A. Vanaselja sold 40,000 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of C$70.07, for a total transaction of C$2,802,640.00. Following the sale, the director directly owned 12,000 shares of the company's stock, valued at C$840,792. This represents a 76.92% decrease in their position. Also, Director Francois Lionel Poirier sold 53,946 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of C$70.49, for a total value of C$3,802,669.72. Following the sale, the director owned 113,550 shares in the company, valued at C$8,004,173.57. The trade was a 32.21% decrease in their position. 0.03% of the stock is currently owned by insiders.

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.

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