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

Shares of TC Energy Co. (TSE:TRP) (NYSE:TRP) hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$77.56 and last traded at C$77.25, with a volume of 1379631 shares changing hands. The stock had previously closed at C$76.37.

Wall Street Analysts Forecast Growth

TRP has been the subject of a number of analyst reports. US Capital Advisors lowered TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. Raymond James Financial raised their target price on TC Energy from C$70.00 to C$72.00 in a research note on Monday. Cibc World Mkts lowered TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. TD Securities cut their price objective on shares of TC Energy from C$81.00 to C$80.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Finally, Jefferies Financial Group boosted their price objective on shares of TC Energy from C$73.00 to C$74.00 in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, TC Energy has an average rating of “Moderate Buy” and an average target price of C$78.08.

TC Energy Price Performance

The business’s fifty day moving average price is C$73.03 and its 200-day moving average price is C$69.75. The company has a market capitalization of C$80.15 billion, a P/E ratio of 23.54, a P/E/G ratio of 1.69 and a beta of 0.83. The company has a current ratio of 1.31, a quick ratio of 0.40 and a debt-to-equity ratio of 237.62.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings results on Thursday, November 6th. The company reported C$0.58 earnings per share for the quarter. The business had revenue of C$3.70 billion for the quarter. TC Energy had a return on equity of 17.25% and a net margin of 32.39%. As a group, sell-side analysts predict that TC Energy Co. will post 3.5490515 earnings per share for the current fiscal year.

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.