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 report report published on Tuesday, BayStreet.CA reports. The firm currently has a neutral rating on the stock.

Other equities analysts have also issued research reports about the stock. ATB Capital set a C$54.00 target price on shares of TC Energy and gave the stock a sector perform rating in a research report on Friday, January 5th. Jefferies Financial Group set a C$57.00 price objective on shares of TC Energy and gave the company a hold rating in a research report on Tuesday, February 27th. Barclays increased their price objective on shares of TC Energy from C$53.00 to C$55.00 in a research report on Monday, January 29th. Stifel Nicolaus set a C$61.00 price objective on shares of TC Energy and gave the company a buy rating in a research report on Thursday, January 18th. Finally, Scotiabank increased their price objective on shares of 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. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of C$54.94.

TC Energy Price Performance

Shares of TSE:TRP opened at C$49.05 on Tuesday. The company has a debt-to-equity ratio of 163.32, a quick ratio of 0.40 and a current ratio of 0.96. The firm has a fifty day moving average price of C$53.00 and a 200 day moving average price of C$51.44. TC Energy has a fifty-two week low of C$43.70 and a fifty-two week high of C$56.98. The firm has a market cap of C$51.01 billion, a price-to-earnings ratio of 17.84, a P/E/G ratio of 0.26 and a beta of 0.73.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its earnings results on Friday, February 16th. The company reported C$1.35 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of C$4.24 billion during the quarter, compared to analyst estimates of C$3.94 billion. As a group, sell-side analysts expect that TC Energy will post 4.1789916 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced 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 represents a $3.84 annualized dividend and a dividend yield of 7.83%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from TC Energy’s previous quarterly dividend of $0.93. TC Energy’s payout ratio is 139.64%.

Insider Buying and Selling at TC Energy

In other TC Energy news, Director Kevin B. Engel sold 2,514 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of C$54.33, for a total transaction of C$136,593.16. Following the completion of the transaction, the director now owns -29 shares in the company, valued at C($1,575.66). In other TC Energy news, Director Kevin B. Engel sold 2,514 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of C$54.33, for a total transaction of C$136,593.16. Following the completion of the transaction, the director now owns -29 shares in the company, valued at C($1,575.66). Also, Director Alexis A.J. Hudy bought 875 shares of the company’s stock in a transaction on Monday, March 25th. The shares were acquired at an average price of C$54.97 per share, with a total value of C$48,098.75. Following the transaction, the director now directly owns 875 shares of the company’s stock, valued at C$48,098.75. Insiders acquired 4,526 shares of company stock worth $248,609 over the last 90 days. Company insiders own 0.04% 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.