TC Energy (TSE:TRP) Reaches New 52-Week High – Here’s Why

Shares of TC Energy Co. (TSE:TRP) (NYSE:TRP) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$77.76 and last traded at C$74.75, with a volume of 4523645 shares traded. The stock had previously closed at C$76.85.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TRP. Jefferies Financial Group lifted their price objective on shares of TC Energy from C$73.00 to C$74.00 in a research note on Tuesday, November 11th. Barclays boosted their price target on shares of TC Energy from C$75.00 to C$80.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Scotiabank increased their price objective on shares of TC Energy from C$77.00 to C$80.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Cibc World Mkts cut TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Finally, BMO Capital Markets raised TC Energy from a “hold” rating to an “outperform” rating and increased their price target for the company from C$73.00 to C$83.00 in a research note on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$79.40.

TC Energy Stock Performance

The stock has a market cap of C$79.59 billion, a price-to-earnings ratio of 23.38, a price-to-earnings-growth ratio of 1.69 and a beta of 0.84. The company’s 50-day simple moving average is C$74.76 and its 200-day simple moving average is C$71.49. The company has a quick ratio of 0.40, a current ratio of 1.31 and a debt-to-equity ratio of 237.62.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings data on Thursday, November 6th. The company reported C$0.77 earnings per share for the quarter. The business had revenue of C$3.70 billion during the quarter. TC Energy had a return on equity of 17.25% and a net margin of 32.39%. Analysts predict that TC Energy Co. will post 3.5490515 EPS 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.