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

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective raised by JPMorgan Chase & Co. from C$58.00 to C$59.00 in a report issued on Tuesday morning, BayStreet.CA reports. They currently have a neutral rating on the stock.

A number of other research analysts have also issued reports on TRP. Royal Bank of Canada reduced their price objective on TC Energy from C$54.00 to C$49.00 and set an outperform rating for the company in a research report on Tuesday, February 20th. Barclays boosted their price target on TC Energy from C$53.00 to C$55.00 in a research report on Monday, January 29th. Jefferies Financial Group set a C$57.00 price target on TC Energy and gave the stock a hold rating in a research report on Tuesday, February 27th. CIBC boosted their price target on TC Energy from C$54.00 to C$55.00 and gave the stock a neutral rating in a research report on Monday, January 8th. Finally, National Bankshares boosted their price target on TC Energy from C$54.00 to C$58.00 and gave the stock an outperform rating in a research report on Tuesday, January 30th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of C$55.29.

TC Energy Trading Down 2.0 %

TSE:TRP opened at C$48.60 on Tuesday. TC Energy has a 12-month low of C$43.70 and a 12-month high of C$56.98. The firm has a market capitalization of C$50.54 billion, a P/E ratio of 17.67, 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 business has a 50 day simple moving average of C$53.11 and a 200 day simple moving average of C$51.46.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings data on Friday, February 16th. The company reported C$1.35 earnings per share (EPS) 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 business had revenue of C$4.24 billion during the quarter, compared to analyst estimates of C$3.94 billion. Equities research analysts predict that TC Energy will post 4.1789916 EPS for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a $0.96 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.84 annualized dividend and a dividend yield of 7.90%. TC Energy’s dividend payout ratio is 139.64%.

Insider Activity

In other news, Senior Officer Dawn Elizabeth De Lima acquired 750 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was acquired at an average price of C$54.48 per share, for a total transaction of C$40,860.00. In related news, Senior Officer Dawn Elizabeth De Lima bought 750 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were bought at an average cost of C$54.48 per share, with a total value of C$40,860.00. Also, Director Alexis A.J. Hudy bought 875 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were bought at an average cost of C$54.97 per share, for a total transaction of C$48,098.75. Following the completion of the transaction, the director now directly owns 875 shares of the company’s stock, valued at C$48,098.75. Insiders bought a total of 4,526 shares of company stock worth $248,609 over the last 90 days. 0.04% of the stock is currently owned by company insiders.

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.