TC Energy (TSE:TRP) Hits New 52-Week High – What’s Next?

TC Energy Co. (TSE:TRP) (NYSE:TRP) shares reached a new 52-week high on Monday . The company traded as high as C$89.68 and last traded at C$88.60, with a volume of 961391 shares traded. The stock had previously closed at C$87.65.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Raymond James Financial lifted their target price on shares of TC Energy from C$71.00 to C$74.00 and gave the company a “hold” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada raised their price target on TC Energy from C$84.00 to C$92.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. National Bank Financial upped their price objective on TC Energy from C$85.00 to C$86.00 and gave the stock a “hold” rating in a research note on Tuesday, February 17th. ATB Cormark Capital Markets increased their target price on TC Energy from C$73.00 to C$80.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 17th. Finally, BMO Capital Markets raised TC Energy from a “hold” rating to an “outperform” rating and lifted their target price for the company from C$73.00 to C$83.00 in a research note on Friday, November 7th. Four investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$84.00.

TC Energy Stock Down 1.2%

The company has a quick ratio of 0.40, a current ratio of 0.63 and a debt-to-equity ratio of 223.25. The stock has a market capitalization of C$91.18 billion, a P/E ratio of 26.79, a PEG ratio of 1.69 and a beta of 0.86. The company has a fifty day moving average price of C$79.88 and a 200-day moving average price of C$75.75.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings results on Friday, February 13th. The company reported C$0.98 EPS for the quarter. The company had revenue of C$4.17 billion during the quarter. TC Energy had a return on equity of 12.80% and a net margin of 23.23%. As a group, research analysts forecast that TC Energy Co. will post 3.5490515 EPS for the current fiscal year.

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. The company also owns or has interests in 11 power-generation facilities with a capacity of 6,600 megawatts.