TC Energy (NYSE:TRP) Reaches New 1-Year High at $47.50

Shares of TC Energy Co. (NYSE:TRP - Get Free Report) TSE: TRP hit a new 52-week high on Tuesday . The stock traded as high as $47.50 and last traded at $47.50, with a volume of 2343 shares trading hands. The stock had previously closed at $47.11.

Analysts Set New Price Targets

Several brokerages have weighed in on TRP. StockNews.com began coverage on TC Energy in a research note on Thursday, September 19th. They issued a "hold" rating on the stock. Barclays upgraded TC Energy from an "equal weight" rating to an "overweight" rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $43.50.

TC Energy Stock Performance

The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. The stock has a market capitalization of $47.02 billion, a PE ratio of 24.37, a P/E/G ratio of 3.81 and a beta of 0.81. The stock has a 50 day moving average of $44.18 and a two-hundred day moving average of $40.42.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the business earned $0.71 earnings per share. Research analysts expect that TC Energy Co. will post 3.06 EPS for the current fiscal year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a dividend of $0.702 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a yield of 5.97%. TC Energy's payout ratio is 146.39%.

Institutional Trading of TC Energy

A number of institutional investors have recently bought and sold shares of TRP. Murchinson Ltd. purchased a new stake in TC Energy during the first quarter worth $506,485,000. Capital Research Global Investors boosted its position in TC Energy by 23.7% during the fourth quarter. Capital Research Global Investors now owns 55,677,989 shares of the pipeline company's stock worth $2,174,931,000 after purchasing an additional 10,654,993 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in TC Energy by 107.1% during the second quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company's stock worth $737,609,000 after purchasing an additional 10,065,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in TC Energy by 94.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company's stock worth $688,534,000 after purchasing an additional 8,339,800 shares in the last quarter. Finally, Capital International Investors boosted its position in TC Energy by 11.8% during the fourth quarter. Capital International Investors now owns 55,161,245 shares of the pipeline company's stock worth $2,155,419,000 after purchasing an additional 5,822,056 shares in the last quarter. 83.13% of the stock is currently 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.