TC Energy (TSE:TRP) Upgraded to Outperform at CIBC

CIBC upgraded shares of TC Energy (TSE:TRP) (NYSE:TRP) from a neutral rating to an outperform rating in a report released on Friday morning,BayStreet.CA reports. CIBC currently has C$78.00 price target on the stock, up from their previous price target of C$77.00.

A number of other research analysts have also recently issued reports on the company. US Capital Advisors cut TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. TD Securities dropped their target price on TC Energy from C$81.00 to C$80.00 and set a “buy” rating for the company in a research report on Friday. National Bankshares upped their target price 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. Cibc World Mkts cut shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Finally, Royal Bank Of Canada boosted their price target on shares of TC Energy from C$74.00 to C$84.00 in a research note on Friday. Three research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, TC Energy presently has an average rating of “Moderate Buy” and a consensus price target of C$77.64.

TC Energy Price Performance

TRP traded up C$1.99 during trading on Friday, hitting C$73.26. The company’s stock had a trading volume of 4,728,039 shares, compared to its average volume of 6,052,171. The company has a quick ratio of 0.40, a current ratio of 1.31 and a debt-to-equity ratio of 237.62. The stock 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. The firm’s 50 day moving average price is C$72.69 and its two-hundred day moving average price is C$69.54. TC Energy has a 12 month low of C$62.17 and a 12 month high of C$77.26.

Insider Activity at TC Energy

In other 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 value 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 C$8,004,173.57. The trade was a 32.21% decrease in their position. Also, Director Siim A. Vanaselja sold 40,000 shares of the company’s stock in a transaction 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 sale, the director owned 12,000 shares of the company’s stock, valued at approximately C$840,792. This represents a 76.92% decrease in their position. 0.03% of the stock is currently owned by corporate insiders.

TC Energy Company Profile

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.