TC Energy (TSE:TRP) Reaches New 1-Year High After Insider Buying Activity

TC Energy Co. (TSE:TRP) (NYSE:TRP) shares hit a new 52-week high during mid-day trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as C$64.39 and last traded at C$64.16, with a volume of 1383624 shares changing hands. The stock had previously closed at C$63.19.

Specifically, Senior Officer Dawn Elizabeth De Lima purchased 545 shares of TC Energy stock in a transaction on Tuesday, September 24th. The shares were bought at an average price of C$63.06 per share, with a total value of C$34,367.70.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TRP. ATB Capital boosted their price objective on shares of TC Energy from C$56.00 to C$60.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 10th. Wells Fargo & Company boosted their price objective on shares of TC Energy from C$59.00 to C$64.00 in a research report on Tuesday, June 4th. CIBC boosted their price objective on shares of TC Energy from C$56.00 to C$59.00 in a research report on Monday, July 15th. Jefferies Financial Group boosted their price objective on shares of TC Energy from C$52.00 to C$57.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Finally, National Bankshares boosted their price objective on shares of TC Energy from C$60.00 to C$65.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$58.62.

TC Energy Stock Down 2.1 %

The firm has a market capitalization of C$65.71 billion, a PE ratio of 19.07, a P/E/G ratio of 0.26 and a beta of 0.82. The firm’s 50 day moving average price is C$60.87 and its two-hundred day moving average price is C$55.37. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, beating the consensus estimate of C$0.89 by C$0.05. The business had revenue of C$4.09 billion during the quarter, compared to the consensus estimate of C$3.78 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. As a group, research analysts forecast that TC Energy Co. will post 4.5431472 EPS for the current fiscal year.

TC Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be paid a $0.96 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.84 annualized dividend and a dividend yield of 6.08%. TC Energy’s dividend payout ratio (DPR) is presently 116.01%.

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.