TC Energy (TSE:TRP) Rating Increased to Strong-Buy at Cibc Captl Mkts

Cibc Captl Mkts upgraded shares of TC Energy (TSE:TRP) (NYSE:TRP) from a hold rating to a strong-buy rating in a report released on Thursday morning,Zacks.com reports.

Several other research firms have also issued reports on TRP. National Bankshares raised their price objective on TC Energy from C$75.00 to C$76.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. TD Securities lowered their price target 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. CIBC raised shares of TC Energy from a “neutral” rating to an “outperform” rating and increased their target price for the company from C$77.00 to C$78.00 in a research note on Friday. Royal Bank Of Canada upped their price target on shares of TC Energy from C$74.00 to C$84.00 in a report on Friday. Finally, US Capital Advisors downgraded shares of 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 issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$77.64.

TC Energy Price Performance

Shares of TSE TRP traded up C$1.99 during mid-day trading on Thursday, hitting C$73.26. 4,728,039 shares of the company’s stock traded hands, compared to its average volume of 6,052,171. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40. TC Energy has a 1 year low of C$62.17 and a 1 year high of C$77.26. The company’s 50-day moving average is C$72.69 and its two-hundred day moving average is C$69.54. The company has a market capitalization of C$76.26 billion, a P/E ratio of 17.96, a PEG ratio of 1.69 and a beta of 0.83.

Insider Transactions at TC Energy

In related news, Director Siim A. Vanaselja sold 40,000 shares of TC Energy stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of C$70.07, for a total value of C$2,802,640.00. Following the completion of the sale, the director directly owned 12,000 shares in the company, valued at C$840,792. The trade was a 76.92% decrease in their ownership of the stock. Also, Director Francois Lionel Poirier sold 53,946 shares of TC Energy 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 in the company, valued at C$8,004,173.57. This 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.