TC Energy (TSE:TRP) Price Target Raised to C$79.00

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

TRP has been the subject of a number of other research reports. Scotiabank increased their target price on shares of TC Energy from C$68.00 to C$74.00 in a research report on Friday, November 8th. National Bankshares increased their target price on TC Energy from C$60.00 to C$70.00 in a research note on Friday, November 8th. UBS Group upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Veritas raised TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, CIBC increased their target price on TC Energy from C$66.00 to C$67.00 in a research report on Friday, November 8th. Two 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, the company presently has a consensus rating of “Hold” and an average price target of C$69.54.

TC Energy Stock Performance

Shares of TRP opened at C$68.79 on Monday. 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 stock has a market capitalization of C$71.54 billion, a P/E ratio of 20.78, a P/E/G ratio of 1.69 and a beta of 0.82. The company’s fifty day moving average is C$64.70 and its two-hundred day moving average is C$58.75. TC Energy has a 1 year low of C$43.83 and a 1 year high of C$70.24.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 EPS for the quarter, topping the consensus estimate of C$0.97 by C$0.06. The business had revenue of C$4.08 billion for the quarter, compared to analyst estimates of C$3.90 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. On average, sell-side analysts predict that TC Energy will post 3.5490515 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $1.113 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, December 31st. This represents a $4.45 annualized dividend and a dividend yield of 6.47%. TC Energy’s payout ratio is presently 116.01%.

Insider Buying and Selling

In related news, Director Greg Grant sold 12,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of C$62.62, for a total value of C$751,384.80. Also, Director Lindsay Mackay sold 3,520 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of C$70.00, for a total value of C$246,400.00. In the last ninety days, insiders sold 89,490 shares of company stock worth $5,749,355. 0.03% of the stock is currently owned by insiders.

TC Energy Company Profile

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.