TC Energy (TSE:TRP) Reaches New 1-Year High – Still a Buy?

Shares of TC Energy Co. (TSE:TRP) (NYSE:TRP) hit a new 52-week high on Wednesday . The company traded as high as C$66.71 and last traded at C$66.58, with a volume of 572921 shares traded. The stock had previously closed at C$65.65.

Wall Street Analyst Weigh In

TRP has been the topic of several research analyst reports. National Bankshares reduced their price target on shares of TC Energy from C$65.00 to C$60.00 and set an “outperform” rating on the stock in a research report on Thursday, October 3rd. Barclays upped their target price on TC Energy from C$66.00 to C$67.00 in a report on Monday, October 21st. UBS Group raised TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. Veritas upgraded shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Finally, Morgan Joseph raised TC Energy from an “underweight” rating to an “overweight” rating and increased their target price for the stock from C$62.00 to C$78.00 in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$61.92.

TC Energy Price Performance

The firm has a 50-day moving average of C$63.46 and a 200-day moving average of C$57.39. The stock has a market cap of C$70.05 billion, a PE ratio of 20.35, a PEG ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40.

Insider Buying and Selling

In related news, Senior Officer Dawn Elizabeth De Lima bought 545 shares of the stock in a transaction dated Tuesday, September 24th. The stock was purchased at an average cost of C$63.06 per share, with a total value of C$34,367.70. In other TC Energy news, Senior Officer Dawn Elizabeth De Lima acquired 545 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was bought at an average cost of C$63.06 per share, with a total value of C$34,367.70. Also, Director Richard Prior sold 18,068 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of C$63.00, for a total value of C$1,138,284.00. In the last ninety days, insiders sold 76,114 shares of company stock valued at $4,704,641. 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.