TC Energy (TSE:TRP) Raised to Strong-Buy at Cibc Captl Mkts

TC Energy (TSE:TRP) (NYSE:TRP) was upgraded by equities research analysts at Cibc Captl Mkts from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Several other brokerages also recently issued reports on TRP. BMO Capital Markets raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday. Scotiabank increased their target price on TC Energy from C$77.00 to C$80.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Barclays boosted their price target on TC Energy from C$75.00 to C$80.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. TD Securities decreased their price objective on TC Energy from C$81.00 to C$80.00 and set a “buy” rating for the company in a report on Friday. Finally, Cibc World Mkts cut TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, TC Energy has a consensus rating of “Moderate Buy” and a consensus price target of C$77.64.

TC Energy Price Performance

Shares of TRP stock opened at C$73.26 on Thursday. The company has a quick ratio of 0.40, a current ratio of 1.31 and a debt-to-equity ratio of 237.62. TC Energy has a 12-month low of C$62.17 and a 12-month high of C$77.26. The firm has a fifty day moving average of C$72.69 and a 200-day moving average of C$69.54. The firm has a market capitalization of C$76.26 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 1.69 and a beta of 0.83.

Insider Buying and Selling

In related news, Director Francois Lionel Poirier sold 53,946 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of C$70.49, for a total transaction of C$3,802,669.72. Following the transaction, the director directly owned 113,550 shares in the company, valued at approximately C$8,004,173.57. The trade was a 32.21% decrease in their ownership of the stock. Also, Director Siim A. Vanaselja sold 40,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of C$70.07, for a total transaction of C$2,802,640.00. Following the sale, the director directly owned 12,000 shares in the company, valued at C$840,792. This trade represents a 76.92% decrease in their ownership of the stock. 0.03% of the stock is owned by company insiders.

About TC Energy

TC Energy Corp operates as an energy infrastructure company, consisting of pipeline and power generation assets in Canada, the United States, and Mexico. Its pipeline network consists of over 92,600 kilometers (57,500 miles) of natural gas pipeline, along with 4,900 kilometers (3,000) miles) from the Keystone Pipeline system.