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 released on Monday morning,BayStreet.CA reports.

Several other analysts have also commented on TRP. BMO Capital Markets raised their price objective on TC Energy from C$55.00 to C$66.00 in a report on Friday, November 8th. National Bankshares raised their target price on TC Energy from C$60.00 to C$70.00 in a research report on Friday, November 8th. Scotiabank raised their target price on TC Energy from C$68.00 to C$74.00 in a research report on Friday, November 8th. CIBC raised their target price on TC Energy from C$66.00 to C$67.00 in a research report on Friday, November 8th. Finally, Veritas upgraded TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of “Hold” and a consensus price target of C$69.54.

TC Energy Trading Up 2.0 %

Shares of TSE TRP opened at C$70.14 on Monday. The business has a fifty day moving average price of C$64.86 and a 200 day moving average price of C$58.90. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. TC Energy has a 1-year low of C$43.83 and a 1-year high of C$70.24. The stock has a market capitalization of C$72.95 billion, a P/E ratio of 21.19, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.97 by C$0.06. The firm had revenue of C$4.08 billion during the quarter, compared to analysts’ expectations 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 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid 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 dividend on an annualized basis and a dividend yield of 6.35%. TC Energy’s payout ratio is presently 116.01%.

Insider Activity

In related news, Senior Officer Dawn Elizabeth De Lima bought 545 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was purchased at an average cost of C$63.06 per share, with a total value of C$34,367.70. Also, Senior Officer Francois Lionel Poirier sold 118,243 shares of the business’s stock in a transaction on 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. Over the last ninety days, insiders sold 214,476 shares of company stock valued at $14,299,929. 0.03% of the stock is currently owned by corporate insiders.

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.