Cibc World Mkts Upgrades TC Energy (TSE:TRP) to Strong-Buy

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP was upgraded by Cibc World Mkts from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Friday,Zacks.com reports.

Several other research firms have also recently weighed in on TRP. TD Securities raised their price objective on shares of TC Energy from C$74.00 to C$76.00 and gave the company a "buy" rating in a research report on Friday. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. Jefferies Financial Group increased their price objective on TC Energy from C$65.00 to C$71.00 in a research report on Thursday, January 30th. CIBC boosted their target price on TC Energy from C$71.00 to C$76.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Citigroup upgraded TC Energy to a "hold" rating in a report on Friday, April 4th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$74.17.

TC Energy Stock Up 1.5 %

Shares of TSE TRP opened at C$70.34 on Friday. The business has a fifty day moving average of C$67.37 and a two-hundred day moving average of C$67.00. The company has a debt-to-equity ratio of 237.62, a quick ratio of 0.40 and a current ratio of 1.31. TC Energy has a 52-week low of C$46.07 and a 52-week high of C$70.97. The stock has a market cap of C$72.54 billion, a PE ratio of 13.99, a PEG ratio of 1.69 and a beta of 0.82.

Insider Activity

In related news, Director Danika Yeager purchased 1,817 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were bought at an average cost of C$69.23 per share, with a total value of C$125,784.97. Also, Senior Officer Dawn Elizabeth De Lima sold 64,802 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of C$69.16, for a total transaction of C$4,481,913.69. In the last three months, insiders purchased 13,287 shares of company stock worth $842,568 and sold 145,977 shares worth $9,810,511. Corporate insiders own 0.03% of the company's stock.

TC Energy Company Profile

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.

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