TC Energy (NYSE:TRP) Reaches New 12-Month High at $45.44

TC Energy Co. (NYSE:TRP) (TSE:TRP) reached a new 52-week high on Monday . The stock traded as high as $45.44 and last traded at $45.44, with a volume of 2929 shares trading hands. The stock had previously closed at $45.07.

Analyst Ratings Changes

Separately, Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, TC Energy has a consensus rating of “Hold” and an average price target of $44.67.

TC Energy Stock Performance

The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. The firm has a market capitalization of $45.68 billion, a PE ratio of 23.55, a PEG ratio of 3.66 and a beta of 0.79. The stock’s 50 day moving average price is $41.01 and its two-hundred day moving average price is $39.44.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.29. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same quarter last year, the business posted $0.71 earnings per share. On average, equities analysts expect that TC Energy Co. will post 3.04 earnings per share for the current 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 issued a $0.702 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a yield of 6.15%. TC Energy’s dividend payout ratio (DPR) is 143.30%.

Institutional Investors Weigh In On TC Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Canoe Financial LP lifted its stake in shares of TC Energy by 781.8% during the fourth quarter. Canoe Financial LP now owns 704,176 shares of the pipeline company’s stock valued at $27,526,000 after buying an additional 624,316 shares during the period. Intech Investment Management LLC acquired a new position in TC Energy in the 1st quarter valued at $1,159,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of TC Energy by 15.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,109,055 shares of the pipeline company’s stock worth $81,599,000 after purchasing an additional 278,886 shares during the period. M&G Plc acquired a new stake in shares of TC Energy during the first quarter worth $111,587,000. Finally, Cetera Investment Advisers grew its position in shares of TC Energy by 74.1% in the first quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock valued at $3,972,000 after purchasing an additional 42,024 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

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.