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

TC Energy logo with Energy background

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

TRP has been the topic of several other reports. CIBC upped 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, May 2nd. Royal Bank of Canada boosted their price objective on TC Energy from C$71.00 to C$74.00 in a research report on Tuesday, February 18th. Citigroup raised TC Energy to a "hold" rating in a report on Friday, April 4th. Jefferies Financial Group upped their price target on TC Energy from C$65.00 to C$71.00 in a report on Thursday, January 30th. Finally, TD Securities upped their target price on shares of TC Energy from C$74.00 to C$76.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of C$74.17.

Check Out Our Latest Analysis on TRP

TC Energy Stock Down 2.5 %

Shares of TSE:TRP traded down C$1.80 during trading on Friday, reaching C$68.83. 1,368,115 shares of the company traded hands, compared to its average volume of 6,367,412. TC Energy has a 1-year low of C$46.07 and a 1-year high of C$70.97. The company has a quick ratio of 0.40, a current ratio of 1.31 and a debt-to-equity ratio of 237.62. The firm has a market cap of C$70.98 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The firm has a fifty day simple moving average of C$67.73 and a 200 day simple moving average of C$67.13.

Insider Buying and Selling at TC Energy

In other news, Director Francois Lionel Poirier bought 4,800 shares of the stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of C$65.05 per share, with a total value of C$312,239.52. Also, Senior Officer Patrick C. Muttart sold 18,629 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of C$70.10, for a total transaction of C$1,305,885.45. In the last ninety days, insiders have bought 13,287 shares of company stock worth $842,568 and have sold 170,987 shares worth $11,550,459. Corporate insiders own 0.03% of the company's stock.

About TC Energy

(Get Free Report)

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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Analyst Recommendations for TC Energy (TSE:TRP)

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