TC Energy (NYSE:TRP) Reaches New 12-Month High – Still a Buy?

TC Energy Corporation (NYSE:TRP) (TSE:TRP) reached a new 52-week high on Monday . The stock traded as high as $65.57 and last traded at $65.0970, with a volume of 234304 shares. The stock had previously closed at $64.37.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TRP shares. Wells Fargo & Company reiterated an “overweight” rating on shares of TC Energy in a report on Monday, February 16th. National Bank Financial downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Morgan Stanley reissued an “overweight” rating on shares of TC Energy in a research report on Wednesday, January 28th. Wall Street Zen raised shares of TC Energy from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Citigroup reiterated a “neutral” rating on shares of TC Energy in a research report on Thursday, February 19th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, TC Energy has an average rating of “Hold” and an average target price of $72.50.

TC Energy Price Performance

The company’s 50-day simple moving average is $58.27 and its 200 day simple moving average is $54.73. The company has a market capitalization of $67.51 billion, a P/E ratio of 27.90 and a beta of 0.72. The company has a quick ratio of 0.56, a current ratio of 0.63 and a debt-to-equity ratio of 1.66.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.94 billion. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. During the same quarter in the previous year, the business earned $1.05 EPS. As a group, sell-side analysts expect that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.8775 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.85. The ex-dividend date is Tuesday, March 31st. This represents a $3.51 annualized dividend and a dividend yield of 5.4%. TC Energy’s dividend payout ratio is currently 106.90%.

Institutional Investors Weigh In On TC Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRP. Annis Gardner Whiting Capital Advisors LLC acquired a new position in TC Energy during the fourth quarter valued at approximately $25,000. Trust Co. of Vermont bought a new stake in shares of TC Energy during the 4th quarter worth $28,000. Westside Investment Management Inc. boosted its holdings in shares of TC Energy by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock worth $32,000 after buying an additional 297 shares during the period. McIlrath & Eck LLC acquired a new position in TC Energy in the 4th quarter valued at $32,000. Finally, SWAN Capital LLC bought a new position in TC Energy in the 3rd quarter worth $40,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.