TC Energy (TSE:TRP) Reaches New 12-Month High on Insider Buying Activity

TC Energy Co. (TSE:TRP) (NYSE:TRP) shares hit a new 52-week high during mid-day trading on Thursday after an insider bought additional shares in the company. The stock traded as high as C$70.37 and last traded at C$70.10, with a volume of 1090248 shares changing hands. The stock had previously closed at C$69.20.

Specifically, Director Joshua Gibbon acquired 600 shares of TC Energy stock in a transaction dated Wednesday, March 19th. The shares were acquired at an average cost of C$69.15 per share, for a total transaction of C$41,492.88. Also, Director Trevor Ebl acquired 1,470 shares of the stock in a transaction on Friday, March 14th. The stock was purchased at an average cost of C$67.85 per share, with a total value of C$99,732.15.

Wall Street Analyst Weigh In

TRP has been the topic of several research reports. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. TD Securities set a C$73.00 target price on shares of TC Energy and gave the stock a “buy” rating in a report on Wednesday, January 15th. Barclays upped their price objective on shares of TC Energy from C$67.00 to C$74.00 in a research note on Wednesday, November 20th. Raymond James upgraded TC Energy to a “hold” rating in a report on Thursday, November 21st. Finally, CIBC increased their price target on shares of TC Energy from C$68.00 to C$70.00 and gave the stock a “neutral” rating in a research note on Thursday, January 9th. Six 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$73.25.

TC Energy Trading Up 1.4 %

The business’s 50 day moving average is C$66.42 and its 200 day moving average is C$65.76. The stock has a market cap of C$72.37 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40.

About TC Energy

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.