TC Energy (TSE:TRP) Price Target Increased to C$59.00 by Analysts at JPMorgan Chase & Co.

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

TRP has been the subject of several other reports. National Bankshares lifted their target price on shares of TC Energy from C$54.00 to C$58.00 and gave the company an outperform rating in a report on Tuesday, January 30th. Stifel Nicolaus set a C$61.00 target price on shares of TC Energy and gave the company a buy rating in a report on Thursday, January 18th. Royal Bank of Canada cut their target price on shares of TC Energy from C$54.00 to C$49.00 and set an outperform rating for the company in a report on Tuesday, February 20th. TD Securities boosted their price target on shares of TC Energy from C$50.00 to C$51.00 and gave the stock a hold rating in a report on Wednesday, February 21st. Finally, Barclays boosted their price target on shares of TC Energy from C$53.00 to C$55.00 in a report on Monday, January 29th. 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 a consensus rating of Hold and an average target price of C$55.29.

TC Energy Stock Performance

Shares of TSE TRP opened at C$48.60 on Tuesday. 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 has a 12 month low of C$43.70 and a 12 month high of C$56.98. The company has a 50 day simple moving average of C$53.11 and a two-hundred day simple moving average of C$51.46. The stock has a market cap of C$50.54 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 0.26 and a beta of 0.73.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its earnings results on Friday, February 16th. The company reported C$1.35 earnings per share for the quarter, beating the consensus estimate of C$1.08 by C$0.27. The firm had revenue of C$4.24 billion during the quarter, compared to analyst estimates of C$3.94 billion. TC Energy had a net margin of 18.34% and a return on equity of 8.39%. As a group, analysts predict that TC Energy will post 4.1789916 earnings per share for the current 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 paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 7.90%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from TC Energy’s previous quarterly dividend of $0.93. TC Energy’s payout ratio is 139.64%.

Insiders Place Their Bets

In other TC Energy news, Director Kevin B. Engel sold 2,514 shares of TC Energy stock in a transaction on Friday, March 15th. The shares were sold at an average price of C$54.33, for a total transaction of C$136,593.16. Following the sale, the director now owns -29 shares of the company’s stock, valued at approximately C($1,575.66). In other news, Director Kevin B. Engel sold 2,514 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of C$54.33, for a total transaction of C$136,593.16. Following the transaction, the director now owns -29 shares of the company’s stock, valued at approximately C($1,575.66). Also, Senior Officer Dawn Elizabeth De Lima purchased 750 shares of the stock in a transaction dated Wednesday, March 20th. The shares were purchased at an average cost of C$54.48 per share, for a total transaction of C$40,860.00. Insiders have acquired a total of 4,526 shares of company stock valued at $248,609 in the last 90 days. 0.04% of the stock is 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.