Shares of TC Energy Co. (TSE:TRP – Get Free Report) (NYSE:TRP) hit a new 52-week high on Wednesday after ATB Capital raised their price target on the stock from C$54.00 to C$56.00. The stock traded as high as C$57.73 and last traded at C$57.50, with a volume of 850852 shares changing hands. The stock had previously closed at C$57.06.
Several other brokerages have also commented on TRP. Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from C$55.00 to C$61.00 in a report on Wednesday, July 17th. Wells Fargo & Company raised their price objective on TC Energy from C$59.00 to C$64.00 in a report on Tuesday, June 4th. Jefferies Financial Group raised their price objective on TC Energy from C$51.00 to C$52.00 and gave the company a “hold” rating in a report on Monday, May 6th. CIBC raised their price objective on TC Energy from C$56.00 to C$59.00 in a report on Monday, July 15th. Finally, JPMorgan Chase & Co. raised their price objective on TC Energy from C$58.00 to C$59.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, TC Energy has an average rating of “Hold” and a consensus price target of C$55.69.
Check Out Our Latest Report on TC Energy
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TC Energy Price Performance
The company has a quick ratio of 0.40, a current ratio of 0.94 and a debt-to-equity ratio of 163.01. The company has a market cap of C$59.47 billion, a PE ratio of 22.08, a P/E/G ratio of 0.26 and a beta of 0.74. The stock has a 50-day simple moving average of C$53.12 and a 200 day simple moving average of C$52.66.
TC Energy (TSE:TRP – Get Free Report) (NYSE:TRP) last posted its earnings results on Friday, May 3rd. The company reported C$1.24 EPS for the quarter, beating analysts’ consensus estimates of C$1.14 by C$0.10. TC Energy had a return on equity of 8.37% and a net margin of 17.31%. The company had revenue of C$4.24 billion for the quarter, compared to the consensus estimate of C$4.26 billion. Equities analysts expect that TC Energy Co. will post 4.1883013 EPS for the current year.
TC Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.96 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.84 annualized dividend and a dividend yield of 6.72%. TC Energy’s dividend payout ratio is presently 147.69%.
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.
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