TC Energy (TSE:TRP) Given New C$79.00 Price Target 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 report published on Monday,BayStreet.CA reports.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group increased their price objective on TC Energy from C$57.00 to C$66.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. ATB Capital boosted their price objective on TC Energy from C$64.00 to C$65.00 in a research report on Friday, November 8th. UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. CIBC raised their target price on TC Energy from C$66.00 to C$67.00 in a research note on Friday, November 8th. Finally, National Bankshares upped their price target on TC Energy from C$60.00 to C$70.00 in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$67.62.

TC Energy Stock Performance

TRP opened at C$69.93 on Monday. TC Energy has a 1 year low of C$43.83 and a 1 year high of C$70.24. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84. The stock has a market cap of C$72.73 billion, a PE ratio of 21.13, a P/E/G ratio of 1.69 and a beta of 0.82. The stock’s 50 day simple moving average is C$64.48 and its 200-day simple moving average is C$58.48.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) for the quarter, beating 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 return on equity of 10.68% and a net margin of 21.38%. Sell-side analysts forecast that TC Energy will post 3.5490515 EPS for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $1.113 per share. This is a positive change 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 6.37%. The ex-dividend date is Tuesday, December 31st. TC Energy’s payout ratio is currently 116.01%.

Insiders Place Their Bets

In related news, Director Jessica A. Kirstine sold 3,394 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of C$69.00, for a total transaction of C$234,186.00. Following the completion of the transaction, the director now owns 725 shares in the company, valued at C$50,025. This represents a 82.40 % decrease in their position. Also, Director Mark Yeomans sold 6,500 shares of TC Energy stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of C$61.58, for a total value of C$400,297.95. Insiders have sold 85,970 shares of company stock worth $5,502,955 in the last three months. Corporate 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.