TC Energy (TSE:TRP) Sets New 52-Week High Following Analyst Upgrade

Shares of TC Energy Co. (TSE:TRP) (NYSE:TRP) 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. The stock had previously closed at C$69.05.

Several other analysts have also recently issued reports on TRP. Barclays increased their target price on TC Energy from C$66.00 to C$67.00 in a research report on Monday, October 21st. Jefferies Financial Group increased their price objective on shares of TC Energy from C$57.00 to C$66.00 and gave the company a “hold” rating in a report on Monday, September 30th. Morgan Joseph raised shares of TC Energy from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from C$62.00 to C$78.00 in a report on Friday, October 25th. UBS Group raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Finally, National Bankshares boosted their price target on shares of 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 given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, TC Energy currently has an average rating of “Hold” and a consensus target price of C$67.62.

Insider Activity at TC Energy

In other TC Energy 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 transaction of C$246,400.00. Also, Director Mark Yeomans sold 6,500 shares of the firm’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. In the last quarter, insiders sold 89,490 shares of company stock valued at $5,749,355. Insiders own 0.03% of the company’s stock.

TC Energy Price Performance

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

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, topping analysts’ consensus estimates of C$0.97 by C$0.06. The firm had revenue of C$4.08 billion during 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%. On average, equities analysts predict that TC Energy Co. will post 3.5490515 EPS for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $1.113 dividend. The ex-dividend date 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 6.40%. TC Energy’s dividend payout ratio 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.