TC Energy (TSE:TRP) PT Lowered to C$60.00 at JPMorgan Chase & Co.

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective trimmed by JPMorgan Chase & Co. from C$66.00 to C$60.00 in a research report released on Tuesday morning, BayStreet.CA reports. The firm currently has a neutral rating on the stock.

A number of other research firms have also recently weighed in on TRP. BMO Capital Markets reduced their price objective on shares of TC Energy from C$65.00 to C$55.00 and set a market perform rating for the company in a research report on Wednesday, October 2nd. ATB Capital decreased their price target on shares of TC Energy from C$60.00 to C$58.00 and set a sector perform rating on the stock in a research note on Thursday, October 3rd. UBS Group upgraded TC Energy from a hold rating to a strong-buy rating in a research note on Monday, September 30th. National Bankshares decreased their target price on TC Energy from C$65.00 to C$60.00 and set an outperform rating on the stock in a research report on Thursday, October 3rd. Finally, Scotiabank dropped their price target on TC Energy from C$62.00 to C$61.00 and set an outperform rating for the company in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, TC Energy has a consensus rating of Moderate Buy and an average price target of C$59.31.

TC Energy Price Performance

Shares of TC Energy stock opened at C$61.93 on Tuesday. The firm has a market cap of C$64.41 billion, a PE ratio of 18.74, a P/E/G ratio of 0.26 and a beta of 0.82. TC Energy has a twelve month low of C$45.96 and a twelve month high of C$65.39. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84. The business has a 50-day moving average price of C$61.61 and a 200 day moving average price of C$55.79.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, beating analysts’ consensus estimates of C$0.89 by C$0.05. The business had revenue of C$4.09 billion during the quarter, compared to analysts’ expectations of C$3.78 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. Sell-side analysts predict that TC Energy will post 4.4244068 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date is Friday, September 27th. TC Energy’s dividend payout ratio is presently 116.01%.

Insider Buying and Selling

In related news, Senior Officer Dawn Elizabeth De Lima bought 545 shares of the stock in a transaction on Tuesday, September 24th. The stock was bought at an average price of C$63.06 per share, with a total value of C$34,367.70. In other news, Senior Officer Dawn Elizabeth De Lima purchased 545 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were bought at an average cost of C$63.06 per share, for a total transaction of C$34,367.70. Also, Director Rosemary K. Stevens sold 1,200 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of C$59.88, for a total value of C$71,856.00. Following the transaction, the director now owns 987 shares of the company’s stock, valued at approximately C$59,101.56. This represents a 0.00 % decrease in their ownership of the stock. In the last ninety days, insiders sold 95,479 shares of company stock valued at $5,860,018. 0.04% of the stock is currently owned by 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.