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

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective raised by research analysts at JPMorgan Chase & Co. from C$58.00 to C$59.00 in a report released on Tuesday, BayStreet.CA reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 22.13% from the company’s previous close.

Several other brokerages also recently commented on TRP. Stifel Nicolaus set a C$61.00 target price on shares of TC Energy and gave the stock a “buy” rating in a research note on Thursday, January 18th. Royal Bank of Canada cut their price target 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. TD Securities lifted their price target on shares of TC Energy from C$50.00 to C$51.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. Scotiabank boosted their target price on shares of TC Energy from C$55.00 to C$58.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Finally, Barclays boosted their target price 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$54.94.

TC Energy Trading Down 0.6 %

TRP stock opened at C$48.31 on Tuesday. The company has a market capitalization of C$50.24 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 0.26 and a beta of 0.73. TC Energy has a one year low of C$43.70 and a one year high of C$56.98. The company’s 50 day moving average price is C$53.06 and its two-hundred day moving average price is C$51.43. The company has a debt-to-equity ratio of 163.32, a quick ratio of 0.40 and a current ratio of 0.96.

TC Energy (TSE:TRP) (NYSE:TRP) last issued 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 the consensus estimate of C$3.94 billion. As a group, analysts predict that TC Energy will post 4.1789916 earnings per share for the current fiscal year.

Insider Activity

In other news, Senior Officer Dawn Elizabeth De Lima bought 2,600 shares of the stock in a transaction dated Monday, March 25th. The stock was purchased at an average cost of C$55.04 per share, for a total transaction of C$143,104.00. In other TC Energy news, Director Alexis A.J. Hudy bought 875 shares of TC Energy stock in a transaction on Monday, March 25th. The shares were acquired at an average price of C$54.97 per share, for a total transaction of C$48,098.75. Following the completion of the purchase, the director now directly owns 875 shares in the company, valued at approximately C$48,098.75. Also, Senior Officer Dawn Elizabeth De Lima bought 2,600 shares of TC Energy stock in a transaction on Monday, March 25th. The stock was acquired at an average price of C$55.04 per share, for a total transaction of C$143,104.00. In the last ninety days, insiders bought 4,526 shares of company stock worth $248,609. 0.04% of the stock is currently owned by insiders.

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.