TC Energy (TSE:TRP) Upgraded by Cibc Captl Mkts to “Strong-Buy” Rating

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 released on Thursday,Zacks.com reports.

Other analysts have also issued reports about the company. Royal Bank Of Canada raised their target price on TC Energy from C$74.00 to C$84.00 in a research note on Friday. National Bankshares raised their price objective on shares of TC Energy from C$75.00 to C$76.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Scotiabank boosted their target price on shares of TC Energy from C$77.00 to C$80.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. BMO Capital Markets raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday. Finally, Jefferies Financial Group increased their price target on shares of TC Energy from C$70.00 to C$73.00 and gave the company a “hold” rating in a research note on Wednesday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$77.64.

TC Energy Stock Up 2.8%

TSE TRP opened at C$73.26 on Thursday. The stock’s 50 day simple moving average is C$72.69 and its 200 day simple moving average is C$69.54. TC Energy has a one year low of C$62.17 and a one year high of C$77.26. The firm has a market cap of C$76.26 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 1.69 and a beta of 0.83. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40.

Insider Activity

In related news, Director Francois Lionel Poirier sold 53,946 shares of the 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 value of C$3,802,669.72. Following the transaction, the director directly owned 113,550 shares in the company, valued at C$8,004,173.57. This represents a 32.21% decrease in their ownership of the stock. Also, Director Siim A. Vanaselja sold 40,000 shares of the firm’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 completion of the transaction, the director directly owned 12,000 shares in the company, valued at approximately C$840,792. The trade was a 76.92% decrease in their ownership of the stock. 0.03% of the stock is currently 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.