TC Energy (TSE:TRP) Sets New 52-Week High – Should You Buy?

TC Energy Co. (TSE:TRP) (NYSE:TRP)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as C$91.51 and last traded at C$91.17, with a volume of 103471 shares. The stock had previously closed at C$90.85.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. ATB Cormark Capital Markets upped their price objective on TC Energy from C$82.00 to C$87.00 and gave the company a “sector perform” rating in a report on Monday, May 4th. Royal Bank Of Canada boosted their target price on shares of TC Energy from C$92.00 to C$95.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. TD Securities downgraded shares of TC Energy from a “buy” rating to a “hold” rating and upped their price target for the company from C$84.00 to C$88.00 in a research note on Tuesday, February 17th. The Goldman Sachs Group upgraded shares of TC Energy from a “sell” rating to a “hold” rating and set a C$62.00 price objective for the company in a research note on Sunday, April 19th. Finally, TD boosted their price objective on shares of TC Energy from C$88.00 to C$90.00 and gave the company a “hold” rating in a report on Monday, May 4th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$87.46.

TC Energy Price Performance

The company has a quick ratio of 0.40, a current ratio of 0.65 and a debt-to-equity ratio of 224.52. The stock has a market capitalization of C$95.37 billion, a price-to-earnings ratio of 28.70, a P/E/G ratio of 1.69 and a beta of 0.76. The business’s 50 day simple moving average is C$87.03 and its 200-day simple moving average is C$80.54.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its earnings results on Friday, May 1st. The company reported C$0.99 EPS for the quarter. The company had revenue of C$3.86 billion during the quarter. TC Energy had a net margin of 21.83% and a return on equity of 12.53%. On average, research analysts forecast that TC Energy Co. will post 3.5490515 earnings per share for the current year.

Insider Buying and Selling at TC Energy

In other TC Energy news, insider Dawn Elizabeth De Lima sold 25,342 shares of the firm’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of C$88.73, for a total value of C$2,248,595.66. Following the sale, the insider owned 18,490 shares of the company’s stock, valued at approximately C$1,640,617.70. This trade represents a 57.82% decrease in their position. Corporate insiders own 0.03% of the company’s stock.

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.