TC Energy (TSE:TRP) Hits New 52-Week High - Still a Buy?

Key Points

• 52-week high: TC Energy reached a new 52-week high, trading as high as C$90.27 (last C$89.96) on volume of 273,648 shares and carries a market cap of C$93.18 billion with 50- and 200-day moving averages of C$85.86 and C$78.62.
• Analyst views are mixed—several firms raised price targets (Scotiabank to C$93, Citigroup to C$95) but the consensus is a 'Hold' with an average target of C$86.18 (four Buy, eight Hold).
• Fundamentals show profitable operations (quarterly EPS C$0.98, net margin 23.23%, ROE 12.8%) but notable financial risk from weak liquidity and leverage, with a debt-to-equity 223.25, current ratio 0.63 and quick ratio 0.40.

TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP reached a new 52-week high on Thursday . The stock traded as high as C$90.27 and last traded at C$89.96, with a volume of 273648 shares trading hands. The stock had previously closed at C$88.55.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TRP shares. Scotiabank increased their target price on shares of TC Energy from C$86.00 to C$93.00 and gave the company an "outperform" rating in a research note on Tuesday, February 17th. TD Securities cut shares of TC Energy from a "buy" rating to a "hold" rating and increased their target price for the company from C$84.00 to C$88.00 in a research note on Tuesday, February 17th. Canadian Imperial Bank of Commerce lowered shares of TC Energy from an "outperform" rating to a "hold" rating and boosted their price target for the company from C$81.00 to C$85.00 in a report on Tuesday, February 17th. National Bank Financial boosted their price target on shares of TC Energy from C$85.00 to C$86.00 and gave the company a "hold" rating in a report on Tuesday, February 17th. Finally, Citigroup boosted their price target on shares of TC Energy from C$86.00 to C$95.00 and gave the company a "neutral" rating in a report on Tuesday, March 31st. Four equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, TC Energy presently has an average rating of "Hold" and a consensus target price of C$86.18.

TC Energy Price Performance

The stock has a market cap of C$93.18 billion, a P/E ratio of 27.35, a price-to-earnings-growth ratio of 1.69 and a beta of 0.72. The company has a current ratio of 0.63, a quick ratio of 0.40 and a debt-to-equity ratio of 223.25. The company's fifty day simple moving average is C$85.86 and its 200-day simple moving average is C$78.62.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last announced its quarterly earnings results on Friday, February 13th. The company reported C$0.98 earnings per share (EPS) for the quarter. The firm had revenue of C$4.17 billion for the quarter. TC Energy had a net margin of 23.23% and a return on equity of 12.80%. As a group, sell-side analysts forecast that TC Energy Co. will post 3.5490515 EPS for the current year.

Insider Transactions at TC Energy

In other TC Energy news, insider Dawn Elizabeth De Lima sold 25,342 shares of the business's stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of C$88.73, for a total value of C$2,248,595.66. Following the sale, the insider owned 18,490 shares of the company's stock, valued at C$1,640,617.70. The trade was a 57.82% decrease in their position. 0.03% of the stock is owned by company 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.

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