TC Energy (NYSE:TRP) Hits New 12-Month High at $41.75

TC Energy Co. (NYSE:TRP) (TSE:TRP)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $41.75 and last traded at $41.63, with a volume of 70181 shares. The stock had previously closed at $41.40.

Wall Street Analyst Weigh In

Separately, Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $48.83.

TC Energy Stock Performance

The firm has a market cap of $41.43 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 3.44 and a beta of 0.79. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.64. The stock has a fifty day moving average price of $38.82 and a 200 day moving average price of $38.71.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, May 3rd. The pipeline company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. TC Energy had a net margin of 17.23% and a return on equity of 17.94%. The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.12 billion. As a group, analysts predict that TC Energy Co. will post 3.03 earnings per share for the current year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.84 annualized dividend and a yield of 6.85%. TC Energy’s dividend payout ratio is 144.85%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TRP. EdgeRock Capital LLC acquired a new stake in shares of TC Energy during the 4th quarter worth approximately $25,000. Creekmur Asset Management LLC acquired a new position in TC Energy in the fourth quarter worth about $27,000. Glassman Wealth Services lifted its stake in TC Energy by 61.0% during the fourth quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 275 shares during the period. OLD Point Trust & Financial Services N A bought a new stake in shares of TC Energy in the 4th quarter valued at approximately $31,000. Finally, Mather Group LLC. bought a new position in shares of TC Energy during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

About TC Energy

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.