TC Energy (TSE:TRP) Hits New 1-Year High – Time to Buy?

TC Energy Co. (TSE:TRP) (NYSE:TRP) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$80.32 and last traded at C$79.85, with a volume of 26729 shares traded. The stock had previously closed at C$79.84.

Wall Street Analysts Forecast Growth

TRP has been the subject of a number of recent analyst reports. Cibc World Mkts downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Scotiabank lifted their price target on TC Energy from C$81.00 to C$86.00 in a report on Friday, January 16th. CIBC increased their price objective on shares of TC Energy from C$78.00 to C$81.00 in a report on Wednesday, December 17th. Raymond James Financial raised their target price on shares of TC Energy from C$70.00 to C$72.00 in a research report on Monday, November 10th. Finally, BMO Capital Markets raised shares of TC Energy from a “hold” rating to an “outperform” rating and upped their price target for the stock from C$73.00 to C$83.00 in a research report on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$80.00.

TC Energy Trading Up 1.4%

The business’s 50-day simple moving average is C$75.91 and its two-hundred day simple moving average is C$73.12. The stock has a market capitalization of C$84.19 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 1.69 and a beta of 0.84. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its earnings results 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 business had revenue of C$3.70 billion for the quarter. On average, research analysts anticipate that TC Energy Co. will post 3.5490515 earnings per share 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.