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

TC Energy Co. (TSE:TRP) (NYSE:TRP)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$80.32 and last traded at C$79.85, with a volume of 26729 shares changing hands. The stock had previously closed at C$79.84.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TRP shares. TD Securities decreased their target price on shares of TC Energy from C$81.00 to C$80.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Royal Bank Of Canada boosted their price objective on shares of TC Energy from C$74.00 to C$84.00 in a report on Friday, November 7th. Cibc World Mkts cut shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Jefferies Financial Group raised their target price on TC Energy from C$73.00 to C$74.00 in a research note on Tuesday, November 11th. Finally, CIBC boosted their price target on TC Energy from C$78.00 to C$81.00 in a research note on Wednesday, December 17th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of C$80.00.

TC Energy Stock Up 1.4%

The firm has a market cap of C$84.19 billion, a P/E ratio of 24.73, a PEG ratio of 1.69 and a beta of 0.84. The firm’s 50-day moving average price is C$75.91 and its 200 day moving average price is C$73.12. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40.

TC Energy (TSE:TRP) (NYSE:TRP) last released its earnings results on Thursday, November 6th. The company reported C$0.77 EPS for the quarter. TC Energy had a return on equity of 17.25% and a net margin of 32.39%.The company had revenue of C$3.70 billion for the quarter. On average, equities research analysts expect that TC Energy Co. will post 3.5490515 earnings per share 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.