TC Energy (TSE:TRP) Hits New 52-Week High – Still a Buy?

TC Energy Co. (TSE:TRP) (NYSE:TRP)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$91.51 and last traded at C$91.17, with a volume of 103471 shares trading hands. The stock had previously closed at C$90.85.

Analysts Set New Price Targets

A number of brokerages have recently commented on TRP. Citigroup increased their price target on shares of TC Energy from C$86.00 to C$95.00 and gave the stock a “neutral” rating in a report on Tuesday, March 31st. National Bank Financial lifted their price objective on shares of TC Energy from C$86.00 to C$92.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. TD Securities lowered shares of TC Energy from a “buy” rating to a “hold” rating and upped their target price for the stock from C$84.00 to C$88.00 in a research report on Tuesday, February 17th. ATB Cormark Capital Markets raised their price target on TC Energy from C$82.00 to C$87.00 and gave the company a “sector perform” rating in a research report on Monday, May 4th. Finally, The Goldman Sachs Group raised TC Energy from a “sell” rating to a “hold” rating and set a C$62.00 price target for the company in a research note on Sunday, April 19th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$87.46.

TC Energy Price Performance

The firm has a market capitalization of C$97.50 billion, a P/E ratio of 29.34, a PEG ratio of 1.69 and a beta of 0.76. The business’s 50-day simple moving average is C$87.19 and its 200 day simple moving average is C$80.85. The company has a quick ratio of 0.40, a current ratio of 0.65 and a debt-to-equity ratio of 224.52.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings data on Friday, May 1st. The company reported C$0.99 earnings per share for the quarter. TC Energy had a net margin of 21.83% and a return on equity of 12.53%. The firm had revenue of C$3.86 billion during the quarter. Sell-side analysts forecast that TC Energy Co. will post 3.5490515 earnings per share for the current year.

Insiders Place Their Bets

In other TC Energy news, insider Dawn Elizabeth De Lima sold 25,342 shares of the company’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of C$88.73, for a total transaction of C$2,248,595.66. Following the completion of the sale, the insider directly owned 18,490 shares in the company, valued at C$1,640,617.70. This represents a 57.82% decrease in their ownership of the stock. 0.03% of the stock is owned by corporate 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. The company also owns or has interests in 11 power-generation facilities with a capacity of 6,600 megawatts.