TC Energy (TSE:TRP) Given New C$59.00 Price Target at JPMorgan Chase & Co.

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

Several other brokerages have also recently commented on TRP. Royal Bank of Canada lowered their target price on shares of 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. CIBC raised their target price on shares of TC Energy from C$54.00 to C$55.00 and gave the stock a neutral rating in a report on Monday, January 8th. Stifel Nicolaus set a C$61.00 price objective on shares of TC Energy and gave the company a buy rating in a research note on Thursday, January 18th. National Bankshares lifted their price objective on shares of TC Energy from C$54.00 to C$58.00 and gave the company an outperform rating in a research note on Tuesday, January 30th. Finally, ATB Capital set a C$54.00 price objective on shares of TC Energy and gave the company a sector perform rating in a research note on Friday, January 5th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of C$54.94.

TC Energy Stock Up 1.1 %

Shares of TRP opened at C$49.05 on Tuesday. TC Energy has a 12 month low of C$43.70 and a 12 month high of C$56.98. The firm’s 50 day moving average is C$53.00 and its 200-day moving average is C$51.44. The stock has a market capitalization of C$51.01 billion, a PE ratio of 17.84, a P/E/G ratio of 0.26 and a beta of 0.73. 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 announced its earnings results on Friday, February 16th. The company reported C$1.35 EPS for the quarter, topping the consensus estimate of C$1.08 by C$0.27. TC Energy had a net margin of 18.34% and a return on equity of 8.39%. The company had revenue of C$4.24 billion for the quarter, compared to analysts’ expectations of C$3.94 billion. Equities research analysts forecast that TC Energy will post 4.1789916 EPS for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors 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 is Wednesday, March 27th. This represents a $3.84 annualized dividend and a yield of 7.83%. TC Energy’s payout ratio is presently 139.64%.

Insider Activity at TC Energy

In other news, Senior Officer Dawn Elizabeth De Lima bought 2,600 shares of the company’s stock in a transaction that occurred 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. In related news, Director Kevin B. Engel sold 2,514 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of C$54.33, for a total value of C$136,593.16. Following the transaction, the director now owns -29 shares in the company, valued at C($1,575.66). Also, Senior Officer Dawn Elizabeth De Lima bought 2,600 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average price of C$55.04 per share, for a total transaction of C$143,104.00. Insiders have bought a total of 4,526 shares of company stock worth $248,609 over the last quarter. Company 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.