TC Energy (TSE:TRP) Reaches New 52-Week High - Time to Buy?

Key Points

• TC Energy's stock recently reached a new 52-week high, trading at C$71.70 before closing at C$71.60 with a significant volume of 112,073 shares.
• Analysts have raised their target prices for TC Energy, with a consensus rating of "Moderate Buy" and an average target price of C$74.42.
• The company declared a quarterly dividend of $0.85 per share, representing an annualized dividend yield of 4.8% and a payout ratio of 76.37%.

TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP hit a new 52-week high during trading on Wednesday . The stock traded as high as C$71.70 and last traded at C$71.60, with a volume of 112073 shares. The stock had previously closed at C$70.93.

Analyst Ratings Changes

Several research analysts have recently commented on TRP shares. National Bankshares lifted 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. TD Securities lifted their target price on TC Energy from C$74.00 to C$76.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Jefferies Financial Group reduced their target price on TC Energy from C$71.00 to C$68.00 in a research note on Wednesday, July 23rd. Barclays lifted their target price on TC Energy from C$74.00 to C$75.00 in a research note on Thursday, August 14th. Finally, Cibc World Mkts upgraded TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of C$74.42.

TC Energy Price Performance

The stock has a market capitalization of C$73.69 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 237.62, a quick ratio of 0.40 and a current ratio of 1.31. The company has a fifty day simple moving average of C$66.42 and a two-hundred day simple moving average of C$67.21.

TC Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.8%. TC Energy's dividend payout ratio (DPR) is currently 76.37%.

Insider Transactions at TC Energy

In other news, Director Russell Mahan sold 11,424 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of C$70.22, for a total transaction of C$802,193.28. Also, Director Alexandra M. Costello sold 6,159 shares of the company's stock in a transaction dated Monday, May 26th. The stock was sold at an average price of C$69.55, for a total value of C$428,378.77. In the last quarter, insiders sold 20,060 shares of company stock valued at $1,401,967. Corporate 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.

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