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

TC Energy (TSE:TRP) (NYSE:TRP) was upgraded by stock 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 analysts have also issued reports on the stock. Cibc World Mkts lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Jefferies Financial Group raised their target price on TC Energy from C$70.00 to C$73.00 and gave the company a “hold” rating in a report on Wednesday, October 29th. Barclays lifted their price target on TC Energy from C$75.00 to C$80.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Scotiabank upped their price objective on TC Energy from C$77.00 to C$80.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Finally, US Capital Advisors lowered TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, TC Energy presently has an average rating of “Moderate Buy” and a consensus target price of C$77.64.

TC Energy Price Performance

TRP stock traded up C$1.99 during midday trading on Thursday, reaching C$73.26. The company had a trading volume of 4,728,039 shares, compared to its average volume of 6,052,171. TC Energy has a 1-year low of C$62.17 and a 1-year high of C$77.26. The stock has a 50 day moving average price of C$72.69 and a 200-day moving average price of C$69.54. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40. The company 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 Transactions at TC Energy

In other TC Energy news, Director Siim A. Vanaselja sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were 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 of the company’s stock, valued at C$840,792. The trade was a 76.92% decrease in their position. Also, Director Francois Lionel Poirier sold 53,946 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director owned 113,550 shares of the company’s stock, valued at approximately C$8,004,173.57. This trade represents a 32.21% decrease in their ownership of the stock. Company insiders own 0.03% of the company’s stock.

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.