TC Energy (TSE:TRP) Stock Rating Lowered by Cibc World Mkts

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

Several other brokerages have also recently issued reports on TRP. Barclays lifted their target price on shares of TC Energy from C$74.00 to C$75.00 in a report on Thursday, August 14th. National Bankshares lifted their target price on shares of TC Energy from C$75.00 to C$76.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. US Capital Advisors cut shares of TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. Citigroup set a C$75.00 price target on shares of TC Energy and gave the stock a “neutral” rating in a research note on Friday, September 5th. Finally, Jefferies Financial Group decreased their price objective on shares of TC Energy from C$71.00 to C$68.00 in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$74.54.

TC Energy Trading Up 0.0%

Shares of TSE TRP opened at C$73.93 on Thursday. 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 stock has a market cap of C$76.86 billion, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 1.69 and a beta of 0.84. TC Energy has a 1 year low of C$61.96 and a 1 year high of C$77.26. The firm has a 50-day moving average of C$72.00 and a 200 day moving average of C$68.88.

Insider Activity at TC Energy

In related news, Director Francois Lionel Poirier sold 53,946 shares of the business’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 sale, 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 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 owned 12,000 shares of the company’s stock, 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 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.