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

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

Several other research analysts have also recently weighed in on the company. CIBC lifted their price target on TC Energy from C$68.00 to C$70.00 and gave the company a “neutral” rating in a research report on Thursday, January 9th. Morgan Joseph raised shares of TC Energy from an “underweight” rating to an “overweight” rating and lifted their target price for the company from C$62.00 to C$78.00 in a report on Friday, October 25th. Scotiabank increased their price target on shares of TC Energy from C$74.00 to C$75.00 in a report on Wednesday, November 20th. Wells Fargo & Company lifted their price objective on shares of TC Energy from C$74.00 to C$76.00 in a report on Wednesday, November 20th. Finally, 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. Six research analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, TC Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of C$73.25.

TC Energy Trading Down 0.8 %

Shares of TC Energy stock opened at C$65.26 on Tuesday. The firm has a fifty day moving average price of C$66.81 and a 200 day moving average price of C$64.92. The stock has a market cap of C$67.30 billion, a PE ratio of 12.98, a price-to-earnings-growth 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. TC Energy has a 1 year low of C$43.83 and a 1 year high of C$70.32.

Insiders Place Their Bets

In other news, Director Jawad Masud sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of C$66.50, for a total transaction of C$332,500.00. Also, Senior Officer Stanley G. Chapman Iii sold 267,435 shares of TC Energy stock in a transaction on Thursday, December 12th. The shares were sold at an average price of C$66.51, for a total value of C$17,785,898.39. Insiders sold 276,701 shares of company stock valued at $18,392,655 in the last three months. 0.03% of the stock is currently owned by 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.