TC Energy (TSE:TRP) Hits New 12-Month High – Here’s Why

TC Energy Co. (TSE:TRP) (NYSE:TRP) reached a new 52-week high during trading on Monday . The company traded as high as C$77.96 and last traded at C$76.93, with a volume of 448963 shares trading hands. The stock had previously closed at C$77.11.

Wall Street Analyst Weigh In

TRP has been the subject of a number of analyst reports. National Bankshares raised their price objective on TC Energy from C$76.00 to C$85.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. CIBC increased their target price on shares of TC Energy from C$78.00 to C$81.00 in a research report on Wednesday, December 17th. Royal Bank Of Canada raised their price target on shares of TC Energy from C$74.00 to C$84.00 in a report on Friday, November 7th. TD Securities reduced their price objective on shares of TC Energy from C$81.00 to C$80.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Finally, Cibc Captl Mkts upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$80.00.

TC Energy Stock Performance

The stock has a market capitalization of C$80.41 billion, a price-to-earnings ratio of 23.62, a price-to-earnings-growth ratio of 1.69 and a beta of 0.84. The company has a 50 day simple moving average of C$75.58 and a 200-day simple moving average of C$72.56. The company has a quick ratio of 0.40, a current ratio of 1.31 and a debt-to-equity ratio of 237.62.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings data on Thursday, November 6th. The company reported C$0.77 earnings per share for the quarter. TC Energy had a net margin of 32.39% and a return on equity of 17.25%. The company had revenue of C$3.70 billion during the quarter. As a group, equities research analysts expect that TC Energy Co. will post 3.5490515 EPS 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. The company also owns or has interests in 11 power-generation facilities with a capacity of 6,600 megawatts.