TC Energy (TSE:TRP) Sets New 1-Year High – Here’s Why

TC Energy Co. (TSE:TRP) (NYSE:TRP)’s share price reached a new 52-week high on Tuesday . The company traded as high as C$87.18 and last traded at C$86.98, with a volume of 148874 shares trading hands. The stock had previously closed at C$86.50.

Wall Street Analysts Forecast Growth

TRP has been the subject of several recent research reports. Jefferies Financial Group lifted their price objective on TC Energy from C$80.00 to C$88.00 in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce lowered TC Energy from an “outperform” rating to a “hold” rating and raised their price target for the stock from C$81.00 to C$85.00 in a report on Tuesday, February 17th. Royal Bank Of Canada boosted their price objective on TC Energy from C$84.00 to C$92.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. National Bank Financial lifted their target price on TC Energy from C$85.00 to C$86.00 and gave the company a “hold” rating in a report on Tuesday, February 17th. Finally, Scotiabank increased their price target on shares of TC Energy from C$86.00 to C$93.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Four research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$84.00.

TC Energy Trading Down 0.0%

The company has a debt-to-equity ratio of 237.62, a quick ratio of 0.40 and a current ratio of 1.31. The firm has a 50-day moving average of C$78.88 and a 200-day moving average of C$75.20. The firm has a market capitalization of C$90.01 billion, a P/E ratio of 26.45, a price-to-earnings-growth ratio of 1.69 and a beta of 0.86.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its earnings results on Friday, February 13th. The company reported C$0.98 earnings per share (EPS) for the quarter. The firm had revenue of C$4.17 billion for the quarter. TC Energy had a net margin of 32.39% and a return on equity of 17.25%. On average, equities research analysts anticipate that TC Energy Co. will post 3.5490515 EPS for the current fiscal year.

About TC Energy

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.