TC Energy (TSE:TRP) Upgraded by CIBC to Outperform Rating

TC Energy (TSE:TRP) (NYSE:TRP) was upgraded by analysts at CIBC from a “neutral” rating to an “outperform” rating in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a C$78.00 price objective on the stock, up from their prior price objective of C$77.00. CIBC’s target price points to a potential upside of 6.47% from the company’s current price.

A number of other research firms also recently commented on TRP. US Capital Advisors downgraded TC Energy from a “moderate buy” rating to a “hold” rating in a research report on Thursday, August 21st. Royal Bank Of Canada boosted their price objective on shares of TC Energy from C$74.00 to C$84.00 in a report on Friday. Jefferies Financial Group increased their target price on shares of TC Energy from C$70.00 to C$73.00 and gave the stock a “hold” rating in a research note on Wednesday, October 29th. Cibc World Mkts downgraded shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Finally, National Bankshares boosted their price objective on TC Energy from C$75.00 to C$76.00 and gave the company an “outperform” rating in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, TC Energy currently has a consensus rating of “Moderate Buy” and an average target price of C$76.58.

TC Energy Trading Up 2.8%

TRP stock traded up C$1.99 during trading on Friday, reaching C$73.26. 4,727,939 shares of the stock were exchanged, compared to its average volume of 6,052,168. The business has a 50 day moving average price of C$72.65 and a 200-day moving average price of C$69.50. TC Energy has a 1 year low of C$62.17 and a 1 year high of C$77.26. The company has a current ratio of 1.31, a quick ratio of 0.40 and a debt-to-equity ratio of 237.62. The firm has a market capitalization of C$76.16 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 1.69 and a beta of 0.83.

Insiders Place Their Bets

In related news, Director Siim A. Vanaselja sold 40,000 shares of the business’s 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 transaction, the director owned 12,000 shares in the company, valued at C$840,792. The trade was a 76.92% decrease in their position. Also, Director Francois Lionel Poirier sold 53,946 shares of TC Energy 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 completion of the transaction, the director owned 113,550 shares in the company, valued at C$8,004,173.57. This trade represents a 32.21% decrease in their ownership of the stock. 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.