TC Energy (NYSE:TRP) Reaches New 52-Week High – Here’s What Happened

TC Energy Corporation (NYSE:TRP) (TSE:TRP)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $55.64 and last traded at $55.73, with a volume of 117739 shares trading hands. The stock had previously closed at $54.87.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TRP shares. BMO Capital Markets raised TC Energy from a “market perform” rating to an “outperform” rating in a research report on Friday, November 7th. Citigroup reissued a “neutral” rating on shares of TC Energy in a research report on Thursday, November 20th. Scotiabank restated an “outperform” rating on shares of TC Energy in a report on Monday, October 20th. Cibc Captl Mkts raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen cut shares of TC Energy from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

TC Energy Trading Up 1.5%

The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.63. The firm has a fifty day moving average price of $52.98 and a 200 day moving average price of $51.22. The company has a market cap of $57.96 billion, a price-to-earnings ratio of 23.98 and a beta of 0.70.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.56. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $2.63 billion. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. During the same period in the prior year, the firm posted $1.03 earnings per share. As a group, equities analysts predict that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be paid a $0.85 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date is Wednesday, December 31st. This represents a $3.40 annualized dividend and a yield of 6.1%. TC Energy’s dividend payout ratio (DPR) is 106.47%.

Institutional Trading of TC Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. boosted its stake in shares of TC Energy by 1.6% during the 1st quarter. American Century Companies Inc. now owns 250,870 shares of the pipeline company’s stock worth $11,847,000 after acquiring an additional 4,015 shares during the period. Northern Trust Corp boosted its position in TC Energy by 11.2% during the first quarter. Northern Trust Corp now owns 860,512 shares of the pipeline company’s stock worth $40,625,000 after purchasing an additional 86,438 shares during the period. Wellington Management Group LLP boosted its position in TC Energy by 13.8% during the first quarter. Wellington Management Group LLP now owns 64,767 shares of the pipeline company’s stock worth $3,058,000 after purchasing an additional 7,871 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of TC Energy by 1.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,198,517 shares of the pipeline company’s stock valued at $151,002,000 after purchasing an additional 46,036 shares during the last quarter. Finally, Compound Planning Inc. raised its position in shares of TC Energy by 2.1% in the first quarter. Compound Planning Inc. now owns 13,806 shares of the pipeline company’s stock valued at $652,000 after purchasing an additional 288 shares during the period. Institutional investors own 83.13% of the company’s stock.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.