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

TC Energy (TSE:TRP) (NYSE:TRP) had its target price upped by JPMorgan Chase & Co. from C$58.00 to C$59.00 in a report released on Tuesday morning, BayStreet.CA reports. The firm currently has a neutral rating on the stock.

Other analysts have also issued reports about the company. Scotiabank lifted their price objective on TC Energy from C$55.00 to C$58.00 and gave the stock an outperform rating in a research report on Tuesday, February 20th. Jefferies Financial Group set a C$57.00 target price on TC Energy and gave the stock a hold rating in a research report on Tuesday, February 27th. Barclays boosted their target price on TC Energy from C$53.00 to C$55.00 in a research report on Monday, January 29th. Royal Bank of Canada cut their price objective on TC Energy from C$54.00 to C$49.00 and set an outperform rating on the stock in a report on Tuesday, February 20th. Finally, National Bankshares lifted their price objective on TC Energy from C$54.00 to C$58.00 and gave the company an outperform rating in a report on Tuesday, January 30th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of C$54.94.

TC Energy Stock Performance

TC Energy stock opened at C$48.54 on Tuesday. TC Energy has a 52-week low of C$43.70 and a 52-week high of C$56.98. The firm has a market capitalization of C$50.48 billion, a P/E ratio of 17.65, a P/E/G ratio of 0.26 and a beta of 0.73. The company has a debt-to-equity ratio of 163.32, a current ratio of 0.96 and a quick ratio of 0.40. The stock has a fifty day moving average price of C$53.03 and a two-hundred day moving average price of C$51.41.

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

TC Energy Increases Dividend

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

Insider Transactions at TC Energy

In other TC Energy news, Senior Officer Dawn Elizabeth De Lima bought 750 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were acquired at an average cost of C$54.48 per share, with a total value of C$40,860.00. In other TC Energy news, Director Kevin B. Engel sold 2,514 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$54.33, for a total value of C$136,593.16. Following the transaction, the director now directly owns -29 shares of the company’s stock, valued at approximately C($1,575.66). Also, Senior Officer Dawn Elizabeth De Lima acquired 750 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was purchased at an average cost of C$54.48 per share, for a total transaction of C$40,860.00. Insiders have purchased a total of 4,526 shares of company stock worth $248,609 in the last 90 days. Corporate 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.