TC Energy (NYSE:TRP) Hits New 52-Week High at $43.94

TC Energy Co. (NYSE:TRP) (TSE:TRP)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $43.94 and last traded at $43.77, with a volume of 30336 shares changing hands. The stock had previously closed at $43.89.

Analyst Ratings Changes

Separately, Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $44.67.

TC Energy Stock Performance

The company has a market cap of $43.90 billion, a PE ratio of 22.62, a P/E/G ratio of 3.56 and a beta of 0.79. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. The firm’s 50-day simple moving average is $40.04 and its two-hundred day simple moving average is $39.08.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.65 by $0.29. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same period in the prior year, the firm earned $0.71 EPS. As a group, research analysts anticipate that TC Energy Co. will post 3.04 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a dividend of $0.702 per share. This represents a $2.81 dividend on an annualized basis and a yield of 6.40%. The ex-dividend date is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is presently 143.30%.

Institutional Trading of TC Energy

A number of hedge funds have recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new position in TC Energy during the fourth quarter worth $25,000. Creekmur Asset Management LLC acquired a new stake in TC Energy in the 4th quarter valued at about $27,000. Glassman Wealth Services raised its holdings in TC Energy by 61.0% in the 4th quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 275 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in TC Energy by 138.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 429 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new stake in TC Energy in the 4th quarter valued at about $31,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Company Profile

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.