JPMorgan Chase & Co. Issues Positive Forecast for TC Energy (TSE:TRP) Stock Price

TC Energy (TSE:TRP) (NYSE:TRP) had its target price increased by JPMorgan Chase & Co. from C$70.00 to C$79.00 in a report released on Monday,BayStreet.CA reports. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 13.07% from the company’s previous close.

Several other equities research analysts also recently issued reports on the stock. Scotiabank raised their price objective on shares of TC Energy from C$68.00 to C$74.00 in a research report on Friday, November 8th. Barclays raised their price objective on shares of TC Energy from C$66.00 to C$67.00 in a research report on Monday, October 21st. Royal Bank of Canada raised their price objective on shares of TC Energy from C$67.00 to C$71.00 in a research report on Friday, November 8th. ATB Capital raised their price objective on shares of TC Energy from C$64.00 to C$65.00 in a research report on Friday, November 8th. Finally, Morgan Joseph upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from C$62.00 to C$78.00 in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$67.62.

TC Energy Stock Performance

TC Energy stock traded up C$0.82 during midday trading on Monday, reaching C$69.87. 948,729 shares of the company’s stock were exchanged, compared to its average volume of 6,892,481. TC Energy has a 52 week low of C$43.83 and a 52 week high of C$70.24. 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 firm has a market cap of C$72.66 billion, a price-to-earnings ratio of 21.11, a P/E/G ratio of 1.69 and a beta of 0.82. The stock’s 50-day simple moving average is C$64.34 and its 200 day simple moving average is C$58.40.

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

Insider Buying and Selling at TC Energy

In other TC Energy news, Director Greg Grant sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of C$62.62, for a total transaction of C$751,384.80. Also, Director Mark Yeomans sold 6,500 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of C$61.58, for a total transaction of C$400,297.95. Insiders sold a total of 85,970 shares of company stock worth $5,502,955 over 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.