TC Energy (TSE:TRP) Price Target Raised to C$79.00 at JPMorgan Chase & Co.

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective boosted by JPMorgan Chase & Co. from C$70.00 to C$79.00 in a research note published on Monday morning,BayStreet.CA reports.

Several other analysts also recently commented on the company. Barclays upped their price objective on TC Energy from C$66.00 to C$67.00 in a research note on Monday, October 21st. Veritas upgraded TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. UBS Group upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. CIBC increased their target price on TC Energy from C$66.00 to C$67.00 in a report on Friday, November 8th. Finally, National Bankshares increased their target price on TC Energy from C$60.00 to C$70.00 in a report on Friday, November 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, TC Energy has a consensus rating of “Hold” and an average target price of C$69.54.

TC Energy Stock Up 2.0 %

TC Energy stock opened at C$70.14 on Monday. TC Energy has a fifty-two week low of C$43.83 and a fifty-two week high of C$70.24. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76. The company has a market capitalization of C$72.95 billion, a P/E ratio of 21.19, a PEG ratio of 1.69 and a beta of 0.82. The stock has a 50-day simple moving average of C$64.86 and a 200-day simple moving average of C$58.90.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, beating the consensus estimate of C$0.97 by C$0.06. The business had revenue of C$4.08 billion during the quarter, compared to the consensus estimate of C$3.90 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. Equities research analysts expect that TC Energy will post 3.5490515 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $1.113 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.96. This represents a $4.45 annualized dividend and a yield of 6.35%. TC Energy’s payout ratio is 116.01%.

Insiders Place Their Bets

In other TC Energy news, Director Mark Yeomans sold 6,500 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of C$61.58, for a total transaction of C$400,297.95. Also, Senior Officer Francois Lionel Poirier sold 118,243 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of C$68.38, for a total value of C$8,085,219.85. In the last quarter, insiders have sold 214,476 shares of company stock worth $14,299,929. Company insiders own 0.03% of the company’s stock.

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.