JPMorgan Chase & Co. Boosts TC Energy (TSE:TRP) Price Target to C$59.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price target hoisted by JPMorgan Chase & Co. from C$58.00 to C$59.00 in a research note issued to investors on Tuesday morning, BayStreet.CA reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

TRP has been the subject of several other reports. Scotiabank lifted their price target on TC Energy from C$55.00 to C$58.00 and gave the company an outperform rating in a research report on Tuesday, February 20th. TD Securities boosted their target price on TC Energy from C$50.00 to C$51.00 and gave the stock a hold rating in a research report on Wednesday, February 21st. ATB Capital set a C$54.00 price target on TC Energy and gave the stock a sector perform rating in a research note on Friday, January 5th. Barclays lifted their price target on TC Energy from C$53.00 to C$55.00 in a research note on Monday, January 29th. Finally, Jefferies Financial Group set a C$57.00 target price on TC Energy and gave the company a hold rating in a research note on Tuesday, February 27th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of C$54.94.

TC Energy Stock Performance

Shares of TC Energy stock opened at C$48.54 on Tuesday. The business’s fifty day simple moving average is C$53.03 and its 200 day simple moving average is C$51.41. The firm has a market capitalization of C$50.48 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 0.26 and a beta of 0.73. TC Energy has a 12 month low of C$43.70 and a 12 month high of C$56.98. The company has a current ratio of 0.96, a quick ratio of 0.40 and a debt-to-equity ratio of 163.32.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its earnings results on Friday, February 16th. The company reported C$1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.08 by C$0.27. The firm had revenue of C$4.24 billion for the quarter, compared to analyst estimates of C$3.94 billion. TC Energy had a return on equity of 8.39% and a net margin of 18.34%. As a group, analysts anticipate that TC Energy will post 4.1789916 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.96 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.93. The ex-dividend date is Wednesday, March 27th. This represents a $3.84 dividend on an annualized basis and a yield of 7.91%. TC Energy’s dividend payout ratio is presently 139.64%.

Insider Buying and Selling at TC Energy

In other news, Senior Officer Dawn Elizabeth De Lima bought 2,600 shares of TC Energy stock in a transaction on Monday, March 25th. The shares were purchased at an average price of C$55.04 per share, for a total transaction of C$143,104.00. In other TC Energy news, Director Alexis A.J. Hudy bought 875 shares of the business’s stock in a transaction on Monday, March 25th. The shares were acquired at an average cost of C$54.97 per share, for a total transaction of C$48,098.75. Following the purchase, the director now owns 875 shares in the company, valued at approximately C$48,098.75. Also, Senior Officer Dawn Elizabeth De Lima bought 2,600 shares of the business’s stock in a transaction on Monday, March 25th. The shares were acquired at an average price of C$55.04 per share, for a total transaction of C$143,104.00. Insiders acquired 4,526 shares of company stock valued at $248,609 in the last 90 days. Insiders own 0.04% of the company’s stock.

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.