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

Key Points

• TC Energy (TSE:TRP) has reached a new 52-week high of C$72.78 amid significant trading volume, suggesting robust investor interest.
• The company recently announced a quarterly dividend of $0.85, translating to an annual yield of **4.7%** and reflecting a high dividend payout ratio of **85.36%**.
• Analysts show mixed sentiment with three Strong Buy ratings, while the consensus rating is a **Moderate Buy**, with an average target price of C$74.46.

TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP reached a new 52-week high on Thursday . The company traded as high as C$72.78 and last traded at C$72.65, with a volume of 690009 shares. The stock had previously closed at C$72.15.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Jefferies Financial Group decreased their target price on shares of TC Energy from C$71.00 to C$68.00 in a research note on Wednesday, July 23rd. Citigroup set a C$75.00 price objective on shares of TC Energy and gave the stock a "neutral" rating in a research note on Friday, September 5th. 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 note on Friday, August 1st. Barclays boosted their price objective on shares of TC Energy from C$74.00 to C$75.00 in a research note on Thursday, August 14th. Finally, US Capital Advisors cut shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research note on Thursday, August 21st. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, TC Energy currently has a consensus rating of "Moderate Buy" and an average target price of C$74.46.

TC Energy Stock Up 0.9%

The firm's fifty day moving average price is C$69.17 and its two-hundred day moving average price is C$68.19. The stock has a market cap of C$76.03 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 1.69 and a beta of 0.92. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40.

TC Energy Announces Dividend

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

Insider Transactions at TC Energy

In related news, Director Francois Lionel Poirier sold 53,946 shares of the company'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 in the company, valued at C$8,004,173.57. This represents a 32.21% decrease in their position. Also, Director Siim A. Vanaselja sold 40,000 shares of the company's 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 owned 12,000 shares in the company, valued at C$840,792. This represents a 76.92% decrease in their position. Corporate insiders own 0.03% of the company's stock.

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.