TC Energy (TSE:TRP) Sets New 12-Month High Following Analyst Upgrade

TC Energy Co. (TSE:TRP) (NYSE:TRP)’s share price hit a new 52-week high during mid-day trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from C$70.00 to C$79.00. The company traded as high as C$70.02 and last traded at C$69.99, with a volume of 184113 shares traded. The stock had previously closed at C$69.05.

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

Insider Buying and Selling

In other news, Director Lindsay Mackay sold 3,520 shares of the business’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. Also, Senior Officer Dawn Elizabeth De Lima acquired 545 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were purchased at an average cost of C$63.06 per share, with a total value of C$34,367.70. Over the last three months, insiders sold 89,490 shares of company stock worth $5,749,355. Corporate insiders own 0.03% of the company’s stock.

TC Energy Stock Performance

The stock has a market cap of C$72.38 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The stock’s 50-day simple moving average is C$64.60 and its two-hundred day simple moving average is C$58.62. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, topping 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 analysts’ expectations of C$3.90 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. Analysts forecast that TC Energy Co. will post 3.5490515 earnings per share for the current year.

TC Energy Increases Dividend

The business 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. This is an increase 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 6.40%. TC Energy’s dividend payout ratio (DPR) is presently 116.01%.

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.