TC Energy (TSE:TRP) Sets New 12-Month High - What's Next?

Key Points

• TC Energy's stock reached a new 52-week high at C$74.80 and ended at C$74.57, with a trading volume of over 2.95 million shares.
• Analyst ratings are mixed, with Jefferies lowering their target price to C$68.00, while Barclays raised it to C$75.00, reflecting a range of confidence levels among analysts.
• The company will pay a quarterly dividend of $0.85 per share on October 31st, representing an annualized yield of 4.6% and a payout ratio of 85.36%.

TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP's stock price reached a new 52-week high on Wednesday . The company traded as high as C$74.80 and last traded at C$74.57, with a volume of 2950871 shares. The stock had previously closed at C$73.78.

Analyst Upgrades and Downgrades

TRP has been the subject of a number of recent research reports. Jefferies Financial Group reduced their target price on shares of TC Energy from C$71.00 to C$68.00 in a research report on Wednesday, July 23rd. Barclays increased their target price on shares of TC Energy from C$74.00 to C$75.00 in a research note on Thursday, August 14th. US Capital Advisors lowered shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research note on Thursday, August 21st. Citigroup set a C$75.00 price target on shares of TC Energy and gave the stock a "neutral" rating in a research note on Friday, September 5th. Finally, National Bankshares boosted 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 research report on Friday, August 1st. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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 cap of C$77.56 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 1.69 and a beta of 0.92. The company's 50-day simple moving average is C$69.45 and its 200-day simple moving average is C$68.28.

TC Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.6%. TC Energy's dividend payout ratio is currently 85.36%.

Insider Transactions at TC Energy

In other news, Director Siim A. Vanaselja sold 40,000 shares of TC Energy stock in a transaction dated 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 completion of the sale, the director directly owned 12,000 shares in the company, valued at C$840,792. The trade was a 76.92% decrease in their position. Also, Director Francois Lionel Poirier sold 53,946 shares of the business's stock in a transaction that occurred 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 approximately C$8,004,173.57. This represents a 32.21% decrease in their ownership of the stock. 0.03% of the stock is 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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