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

Key Points

• TC Energy (TSE:TRP) shares have reached a new 52-week high of C$77.26, closing at C$76.11 with a trading volume of 475,907 shares.
• The company announced a quarterly dividend of $0.85 per share, yielding 4.5% with a dividend payout ratio of 85.36%.
• Research analysts have mixed ratings for TC Energy, with an average rating of "Moderate Buy" and a target price of C$74.46, highlighting some upgrades and downgrades recently issued.

TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP shares reached a new 52-week high on Monday . The stock traded as high as C$77.26 and last traded at C$76.11, with a volume of 475907 shares traded. The stock had previously closed at C$76.89.

Analyst Upgrades and Downgrades

TRP has been the topic of several research analyst reports. Citigroup set a C$75.00 price target on shares of TC Energy and gave the stock a "neutral" rating in a report on Friday, September 5th. Barclays raised their price objective on shares of TC Energy from C$74.00 to C$75.00 in a research report on Thursday, August 14th. National Bankshares lifted their price objective on shares of TC Energy from C$75.00 to C$76.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. 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. Finally, US Capital Advisors downgraded TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, TC Energy has an average rating of "Moderate Buy" and an average target price of C$74.46.

TC Energy Stock Performance

The company has a current ratio of 1.31, a quick ratio of 0.40 and a debt-to-equity ratio of 237.62. The company has a market cap of C$78.97 billion, a PE ratio of 18.62, a P/E/G ratio of 1.69 and a beta of 0.84. The business has a fifty day moving average of C$71.03 and a 200-day moving average of C$68.69.

TC Energy Dividend Announcement

The company 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 yield of 4.5%. TC Energy's dividend payout ratio (DPR) is 85.36%.

Insiders Place Their Bets

In related news, Director Siim A. Vanaselja sold 40,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of C$70.07, for a total transaction of C$2,802,640.00. Following the transaction, the director owned 12,000 shares in the company, valued at C$840,792. This represents a 76.92% decrease in their ownership of the stock. Also, Director Francois Lionel Poirier sold 53,946 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately C$8,004,173.57. This represents a 32.21% decrease in their ownership of the stock. 0.03% of the stock is currently 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.

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