TC Energy (TSE:TRP) Upgraded to “Strong-Buy” at Veritas

TC Energy (TSE:TRP) (NYSE:TRP) was upgraded by research analysts at Veritas from a “strong sell” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

TRP has been the subject of a number of other reports. Jefferies Financial Group boosted their price target on TC Energy from C$65.00 to C$71.00 in a report on Thursday, January 30th. CIBC increased their price objective on shares of TC Energy from C$68.00 to C$70.00 and gave the stock a “neutral” rating in a report on Thursday, January 9th. Morgan Joseph raised shares of TC Energy from an “underweight” rating to an “overweight” rating and boosted their target price for the company from C$62.00 to C$78.00 in a research note on Friday, October 25th. Wells Fargo & Company upped their target price on shares of TC Energy from C$74.00 to C$76.00 in a research report on Wednesday, November 20th. Finally, National Bankshares lifted their price target on TC Energy from C$70.00 to C$71.00 in a report on Wednesday, November 20th. Six analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, TC Energy presently has a consensus rating of “Moderate Buy” and an average target price of C$73.25.

TC Energy Trading Down 0.8 %

Shares of TRP opened at C$65.26 on Tuesday. The stock has a 50-day moving average price of C$66.81 and a 200 day moving average price of C$64.92. TC Energy has a one year low of C$43.83 and a one year high of C$70.32. The company has a market capitalization of C$67.30 billion, a P/E ratio of 12.98, 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 quick ratio of 0.40 and a current ratio of 1.31.

Insider Activity

In related news, Director Alexander (Alex) Oehler acquired 6,540 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were bought at an average price of C$66.05 per share, for a total transaction of C$431,947.64. Also, Director David Forestell sold 3,766 shares of TC Energy stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of C$70.05, for a total value of C$263,826.38. Over the last ninety days, insiders have sold 276,701 shares of company stock valued at $18,392,655. 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.