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

Veritas upgraded shares of TC Energy (TSE:TRP) (NYSE:TRP) from a strong sell rating to a strong-buy rating in a report published on Tuesday morning,Zacks.com reports.

A number of other equities research analysts have also issued reports on TRP. Barclays increased their price objective on shares of TC Energy from C$67.00 to C$74.00 in a report on Wednesday, November 20th. BMO Capital Markets lifted their price target on shares of TC Energy from C$70.00 to C$73.00 in a report on Friday, November 29th. Scotiabank increased their price objective on shares of TC Energy from C$74.00 to C$75.00 in a report on Wednesday, November 20th. Jefferies Financial Group raised their price objective on TC Energy from C$65.00 to C$71.00 in a research report on Thursday, January 30th. Finally, TD Securities set a C$73.00 target price on TC Energy and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Six research 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$73.25.

TC Energy Stock Down 0.8 %

Shares of TRP stock 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 PEG 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. The company’s fifty day moving average price is C$66.81 and its 200-day moving average price is C$64.92. TC Energy has a one year low of C$43.83 and a one year high of C$70.32.

Insider Activity at TC Energy

In other news, Senior Officer Stanley G. Chapman Iii sold 267,435 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of C$66.51, for a total transaction of C$17,785,898.39. Also, Director Alexander (Alex) Oehler acquired 6,540 shares of TC Energy stock in a transaction that occurred on Monday, December 30th. The stock was acquired at an average cost of C$66.05 per share, with a total value of C$431,947.64. Over the last quarter, insiders sold 276,701 shares of company stock worth $18,392,655. Company insiders own 0.03% of the company’s stock.

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.