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

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

Several other brokerages have also recently issued reports on TRP. CIBC upped their price objective on shares of TC Energy from C$71.00 to C$76.00 and gave the company an “outperform” rating in a research note on Friday. Jefferies Financial Group upped their price target on TC Energy from C$65.00 to C$71.00 in a research report on Thursday, January 30th. TD Securities increased their price target on TC Energy from C$74.00 to C$76.00 and gave the company a “buy” rating in a report on Friday. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Finally, Citigroup raised TC Energy to a “hold” rating in a research note on Friday, April 4th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, TC Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of C$74.17.

TC Energy Trading Up 1.5 %

Shares of TRP opened at C$70.34 on Friday. The firm’s fifty day moving average is C$67.37 and its two-hundred day moving average is C$67.00. The stock has a market cap of C$72.54 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. 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 52-week low of C$46.07 and a 52-week high of C$70.97.

Insider Buying and Selling

In other news, Senior Officer Michele L. Waters bought 1,525 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average price of C$64.68 per share, with a total value of C$98,630.90. Also, Senior Officer Dawn Elizabeth De Lima sold 64,802 shares of TC Energy stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of C$69.16, for a total value of C$4,481,913.69. In the last quarter, insiders purchased 13,287 shares of company stock valued at $842,568 and sold 145,977 shares valued at $9,810,511. 0.03% of the stock is currently owned by corporate insiders.

TC Energy Company Profile

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.