TC Energy (TSE:TRP) Reaches New 12-Month High - Still a Buy?

Key Points

• TC Energy reached a new 12-month high of C$72.35 during trading, ultimately closing at C$72.24 with a trading volume of 122,902 shares.
• Recent analyst reports have produced varying ratings, with Barclays raising their target price to C$75.00, while Jefferies cut theirs to C$68.00, resulting in an average target price of C$74.46.
• The company announced a quarterly dividend of $0.85 per share, equating to an annualized dividend of $3.40, with a yield of 4.7% and a payout ratio of 85.36%.

TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$72.35 and last traded at C$72.24, with a volume of 122902 shares trading hands. The stock had previously closed at C$71.79.

Analyst Ratings Changes

A number of research analysts recently issued reports on TRP shares. Barclays lifted their price target on shares of TC Energy from C$74.00 to C$75.00 in a research report on Thursday, August 14th. National Bankshares increased their target price on TC Energy from C$75.00 to C$76.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Jefferies Financial Group cut their target price on TC Energy from C$71.00 to C$68.00 in a research note on Wednesday, July 23rd. Citigroup set a C$75.00 target price on TC Energy and gave the stock a "neutral" rating in a research note on Friday, September 5th. Finally, US Capital Advisors cut TC Energy from a "moderate buy" rating to a "hold" rating in a research note on Thursday, August 21st. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, TC Energy currently has an average rating of "Moderate Buy" and an average target price 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 company has a market capitalization of C$74.87 billion, a PE ratio of 17.65, a PEG ratio of 1.69 and a beta of 0.92. The firm has a 50-day moving average of C$68.00 and a 200 day moving average of C$67.74.

TC Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 4.7%. TC Energy's dividend payout ratio (DPR) is presently 85.36%.

Insider Buying and Selling at TC Energy

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

TC Energy Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.