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

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP had its price objective raised by equities researchers at JPMorgan Chase & Co. from C$58.00 to C$59.00 in a research report issued on Tuesday, BayStreet.CA reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 21.40% from the stock's current price.

A number of other research analysts have also recently issued reports on the company. Barclays lifted their target price on 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 target price on TC Energy and gave the company a "buy" rating in a research report on Thursday, January 18th. CIBC lifted their price target on TC Energy from C$54.00 to C$55.00 and gave the company a "neutral" rating in a research note on Monday, January 8th. Scotiabank lifted their price target on TC Energy from C$55.00 to C$58.00 and gave the company an "outperform" rating in a research note on Tuesday, February 20th. Finally, TD Securities lifted their price target on TC Energy from C$50.00 to C$51.00 and gave the company a "hold" rating in a research note on Wednesday, February 21st. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of C$55.29.

TC Energy Price Performance

Shares of TSE TRP traded down C$1.00 during mid-day trading on Tuesday, reaching C$48.60. The company had a trading volume of 7,397,628 shares, compared to its average volume of 6,679,633. 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 has a one year low of C$43.70 and a one year high of C$56.98. The firm 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. The business's 50-day simple moving average is C$53.11 and its 200 day simple moving average is C$51.46.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last released its earnings results on Friday, February 16th. The company reported C$1.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of C$1.08 by C$0.27. TC Energy had a return on equity of 8.39% and a net margin of 18.34%. The firm had revenue of C$4.24 billion for the quarter, compared to analysts' expectations of C$3.94 billion. On average, research analysts predict that TC Energy will post 4.1789916 earnings per share for the current fiscal year.

Insider Transactions at TC Energy

In related news, Senior Officer Dawn Elizabeth De Lima acquired 750 shares of the firm's stock in a transaction on Wednesday, March 20th. The shares were acquired at an average cost of C$54.48 per share, for a total transaction of C$40,860.00. In other news, Senior Officer Dawn Elizabeth De Lima acquired 750 shares of the company's stock in a transaction that occurred on Wednesday, March 20th. The shares were bought at an average price of C$54.48 per share, with a total value of C$40,860.00. Also, Director Kevin B. Engel sold 2,514 shares of the 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 value of C$136,593.16. Following the completion of the transaction, the director now directly owns -29 shares in the company, valued at approximately C($1,575.66). Insiders acquired a total of 4,526 shares of company stock valued at $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.