TC Energy (TSE:TRP) Downgraded by Cibc World Mkts to "Hold"

Key Points

• TC Energy has been downgraded from a "strong-buy" rating to a "hold" rating by Cibc World Mkts in a recent research report.
• Other analysts have presented mixed views, with CIBC raising the price target for TC Energy's shares from C$76.00 to C$77.00, while Jefferies Financial Group cut their target from C$71.00 to C$68.00.
• Insider selling activity was noted, including significant sales by Directors Siim A. Vanaselja and Francois Lionel Poirier, which marked a major decrease in their stock holdings.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP was downgraded by analysts at Cibc World Mkts from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other research analysts have also commented on the company. CIBC lowered TC Energy from an "outperform" rating to a "neutral" rating and upped their price target for the company from C$76.00 to C$77.00 in a research report on Thursday. US Capital Advisors lowered TC Energy from a "moderate buy" rating to a "hold" rating in a research note on Thursday, August 21st. Jefferies Financial Group cut their price target on shares of TC Energy from C$71.00 to C$68.00 in a report on Wednesday, July 23rd. Citigroup set a C$75.00 target price on shares of TC Energy and gave the stock a "neutral" rating in a research report on Friday, September 5th. Finally, National Bankshares increased their price target on shares of TC Energy from C$75.00 to C$76.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, TC Energy currently has an average rating of "Moderate Buy" and a consensus price target of C$74.54.

TC Energy Stock Performance

Shares of TSE:TRP opened at C$73.90 on Thursday. 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 company has a 50-day moving average price of C$71.86 and a 200-day moving average price of C$68.85. The company has a market cap of C$76.83 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 1.69 and a beta of 0.84. TC Energy has a 12 month low of C$61.80 and a 12 month high of C$77.26.

Insider Buying and Selling

In related news, Director Siim A. Vanaselja sold 40,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were 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 the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of C$70.49, for a total transaction of C$3,802,669.72. Following the sale, the director owned 113,550 shares of the company's stock, valued at approximately C$8,004,173.57. This represents a 32.21% decrease in their ownership of the stock. 0.03% of the stock is owned by company insiders.

TC Energy Company Profile

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.

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