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

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

TRP has been the subject of a number of other research reports. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. CIBC lifted their price objective on shares of TC Energy from C$71.00 to C$76.00 and gave the stock an “outperform” rating in a research report on Friday. Citigroup upgraded shares of TC Energy to a “hold” rating in a research note on Friday, April 4th. Royal Bank of Canada raised their price target on TC Energy from C$71.00 to C$74.00 in a research note on Tuesday, February 18th. Finally, Scotiabank upped their price objective on TC Energy from C$75.00 to C$77.00 and gave the stock an “outperform” rating in a research report on Friday. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$74.17.

TC Energy Price Performance

TRP stock opened at C$70.34 on Friday. TC Energy has a 1 year low of C$46.07 and a 1 year high of C$70.97. The firm has a market capitalization of C$72.54 billion, a P/E ratio of 13.99, a P/E/G ratio of 1.69 and a beta of 0.82. 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 business’s 50-day moving average is C$67.37 and its two-hundred day moving average is C$67.00.

Insider Activity at TC Energy

In related news, Director Gregory Romero bought 1,600 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average price of C$43.95 per share, with a total value of C$70,319.84. Also, Director Trevor Ebl purchased 1,470 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were bought at an average price of C$67.85 per share, with a total value of C$99,732.15. In the last 90 days, insiders acquired 13,287 shares of company stock worth $842,568 and sold 145,977 shares worth $9,810,511. 0.03% of the stock is owned by insiders.

About TC Energy

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.