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

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

Other research analysts also recently issued research reports about the company. Jefferies Financial Group lifted their price objective on TC Energy from C$65.00 to C$71.00 in a report on Thursday, January 30th. Raymond James upgraded TC Energy to a “hold” rating in a research report on Thursday, November 21st. Royal Bank of Canada raised their target price on shares of TC Energy from C$71.00 to C$74.00 in a report on Tuesday. Wells Fargo & Company upped their price target on shares of TC Energy from C$74.00 to C$76.00 in a report on Wednesday, November 20th. Finally, TD Securities set a C$73.00 price target on shares of TC Energy and gave the stock a “buy” rating in a report on Wednesday, January 15th. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, 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 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 fifty-two week low of C$43.83 and a fifty-two week high of C$70.32. The firm has a 50 day moving average price of C$66.81 and a 200-day moving average price of C$64.92. The firm has a market cap of C$67.30 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 1.69 and a beta of 0.82.

Insider Buying and Selling

In related news, Director David Forestell sold 3,766 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of C$70.05, for a total transaction of C$263,826.38. Also, Director Alexander (Alex) Oehler bought 6,540 shares of the company’s stock in a transaction on Monday, December 30th. The stock was bought at an average cost of C$66.05 per share, for a total transaction of C$431,947.64. Insiders sold a total of 276,701 shares of company stock worth $18,392,655 in the last three months. 0.03% of the stock is owned by corporate insiders.

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.