TC Energy (TSE:TRP) Raised to Strong-Buy at Veritas

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

Several other research firms have also issued reports on TRP. Jefferies Financial Group upped their price objective on TC Energy from C$65.00 to C$71.00 in a research note on Thursday, January 30th. National Bankshares boosted their price target on TC Energy from C$70.00 to C$71.00 in a research note on Wednesday, November 20th. Royal Bank of Canada increased their price objective on TC Energy from C$71.00 to C$74.00 in a research report on Tuesday. Scotiabank boosted their target price on shares of TC Energy from C$74.00 to C$75.00 in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company raised their price target on shares of TC Energy from C$74.00 to C$76.00 in a research report on Wednesday, November 20th. Six investment 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’s stock. According to data from MarketBeat, TC Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of C$73.25.

TC Energy Stock Performance

TRP opened at C$65.26 on Tuesday. The company has a market capitalization of C$67.30 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 1.69 and a beta of 0.82. The business’s 50-day moving average price is C$66.81 and its two-hundred day moving average price is C$64.92. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40. TC Energy has a 1 year low of C$43.83 and a 1 year high of C$70.32.

Insider Activity at TC Energy

In related news, Senior Officer Stanley G. Chapman Iii sold 267,435 shares of TC Energy stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of C$66.51, for a total value of C$17,785,898.39. Also, Director David Forestell sold 3,766 shares of the business’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. Insiders have sold a total of 276,701 shares of company stock valued at $18,392,655 in the last 90 days. 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.