TD Securities Upgrades TC Energy (TSE:TRP) to Strong-Buy

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP was upgraded by investment analysts at TD Securities to a "strong-buy" rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently commented on the company. CIBC lifted their target price on TC Energy from C$68.00 to C$70.00 and gave the stock a "neutral" rating in a report on Thursday, January 9th. Raymond James upgraded shares of TC Energy to a "hold" rating in a research note on Thursday, November 21st. BMO Capital Markets increased their price objective on shares of TC Energy from C$70.00 to C$73.00 in a research note on Friday, November 29th. National Bankshares boosted their target price on shares of TC Energy from C$70.00 to C$71.00 in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company increased their price target on TC Energy from C$74.00 to C$76.00 in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, TC Energy has an average rating of "Moderate Buy" and an average target price of C$71.62.

TC Energy Stock Performance

TSE:TRP traded down C$0.72 during trading hours on Tuesday, hitting C$66.44. 7,591,122 shares of the company were exchanged, compared to its average volume of 6,046,007. The company's 50 day moving average price is C$67.65 and its 200-day moving average price is C$62.69. The stock has a market capitalization of C$69.10 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 1.69 and a beta of 0.82. TC Energy has a 52-week low of C$43.83 and a 52-week high of C$70.32. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last announced its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, beating analysts' consensus estimates of C$0.97 by C$0.06. The firm had revenue of C$4.08 billion for the quarter, compared to analyst estimates of C$3.90 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. As a group, research analysts forecast that TC Energy will post 3.5490515 earnings per share for the current year.

Insider Activity

In related news, Senior Officer Stanley G. Chapman Iii sold 267,435 shares of TC Energy stock in a transaction dated 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 Alexander (Alex) Oehler acquired 6,540 shares of the business's stock in a transaction on Monday, December 30th. The shares were purchased at an average price of C$66.05 per share, with a total value of C$431,947.64. Insiders sold 420,911 shares of company stock worth $28,259,105 over the last three months. 0.03% of the stock is currently 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.