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

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

A number of other analysts have also weighed in on TRP. Jefferies Financial Group upped their price objective on shares of TC Energy from C$65.00 to C$71.00 in a research note on Thursday, January 30th. Wells Fargo & Company upped their price objective on shares of TC Energy from C$74.00 to C$76.00 in a research note on Wednesday, November 20th. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. BMO Capital Markets upped their price objective on shares of TC Energy from C$70.00 to C$73.00 in a research note on Friday, November 29th. Finally, Morgan Joseph raised shares of TC Energy from an "underweight" rating to an "overweight" rating and upped their price objective for the stock from C$62.00 to C$78.00 in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of C$73.25.

TC Energy Trading Down 0.8 %

Shares of TRP traded down C$0.50 during trading hours on Tuesday, reaching C$63.98. 2,299,112 shares of the company traded hands, compared to its average volume of 4,370,485. TC Energy has a 12-month low of C$43.83 and a 12-month high of C$70.32. The stock's fifty day moving average price is C$66.73 and its 200 day moving average price is C$64.95. The firm has a market cap of C$65.98 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.69 and a beta of 0.82. The company has a current ratio of 1.31, a quick ratio of 0.40 and a debt-to-equity ratio of 237.62.

Insider Activity

In related news, Director Alexander (Alex) Oehler acquired 6,540 shares of the business's stock in a transaction dated Monday, December 30th. The shares were purchased at an average price of C$66.05 per share, for a total transaction of C$431,947.64. Also, Senior Officer Stanley G. Chapman Iii sold 267,435 shares of the company's stock in a transaction dated 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. Over the last 90 days, insiders have purchased 12,865 shares of company stock worth $842,818 and have sold 272,935 shares worth $18,128,828. Corporate 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.