TC Energy (TSE:TRP) Raised to Strong-Buy at BMO Capital Markets

TC Energy (TSE:TRP) (NYSE:TRP) was upgraded by equities research analysts at BMO Capital Markets from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

Several other research analysts have also recently issued reports on the stock. TD Securities dropped their target price on shares of TC Energy from C$81.00 to C$80.00 and set a “buy” rating on the stock in a report on Friday. Jefferies Financial Group raised their price target on shares of TC Energy from C$70.00 to C$73.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. Royal Bank Of Canada boosted their target price on shares of TC Energy from C$74.00 to C$84.00 in a research note on Friday. US Capital Advisors downgraded shares of TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Finally, Cibc World Mkts lowered TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$77.64.

TC Energy Stock Up 2.8%

Shares of TRP opened at C$73.26 on Friday. The firm has a market capitalization of C$76.26 billion, a P/E ratio of 17.96, a P/E/G ratio of 1.69 and a beta of 0.83. The company has a current ratio of 1.31, a quick ratio of 0.40 and a debt-to-equity ratio of 237.62. TC Energy has a 12-month low of C$62.17 and a 12-month high of C$77.26. The firm has a fifty day moving average price of C$72.69 and a 200-day moving average price of C$69.54.

Insider Transactions at TC Energy

In related news, Director Francois Lionel Poirier sold 53,946 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of C$70.49, for a total transaction of C$3,802,669.72. Following the sale, the director directly owned 113,550 shares in the company, valued at approximately C$8,004,173.57. This represents a 32.21% decrease in their ownership of the stock. Also, Director Siim A. Vanaselja sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of C$70.07, for a total transaction of C$2,802,640.00. Following the completion of the sale, the director directly owned 12,000 shares in the company, valued at approximately C$840,792. This trade represents a 76.92% decrease in their position. 0.03% of the stock is owned by company insiders.

About TC Energy

TC Energy Corp operates as an energy infrastructure company, consisting of pipeline and power generation assets in Canada, the United States, and Mexico. Its pipeline network consists of over 92,600 kilometers (57,500 miles) of natural gas pipeline, along with 4,900 kilometers (3,000) miles) from the Keystone Pipeline system.