TC Energy (TSE:TRP) Upgraded by BMO Capital Markets to Strong-Buy Rating

BMO Capital Markets upgraded shares of TC Energy (TSE:TRP) (NYSE:TRP) from a hold rating to a strong-buy rating in a research report sent to investors on Friday morning,Zacks.com reports.

Other analysts have also issued reports about the company. Scotiabank lifted their price target on TC Energy from C$77.00 to C$80.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Royal Bank Of Canada boosted their price target on shares of TC Energy from C$74.00 to C$84.00 in a research report on Friday. Barclays raised their target price on TC Energy from C$75.00 to C$80.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. CIBC raised shares of TC Energy from a “neutral” rating to an “outperform” rating and upped their price target for the stock from C$77.00 to C$78.00 in a report on Friday. Finally, National Bankshares boosted their price target on shares of TC Energy from C$75.00 to C$76.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$77.64.

TC Energy Stock Up 2.8%

Shares of TRP traded up C$1.99 during trading hours on Friday, reaching C$73.26. 4,728,039 shares of the stock traded hands, compared to its average volume of 6,052,171. TC Energy has a 52 week low of C$62.17 and a 52 week high of C$77.26. The company has a market cap of C$76.26 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 1.69 and a beta of 0.83. The stock has a fifty day simple moving average of C$72.69 and a 200 day simple moving average of C$69.54. The company has a current ratio of 1.31, a quick ratio of 0.40 and a debt-to-equity ratio of 237.62.

Insiders Place Their Bets

In other TC Energy news, Director Francois Lionel Poirier sold 53,946 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of C$70.49, for a total value of C$3,802,669.72. Following the completion of the sale, the director directly owned 113,550 shares of the company’s stock, valued at C$8,004,173.57. The trade was 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 dated Wednesday, August 13th. The shares were sold at an average price of C$70.07, for a total value of C$2,802,640.00. Following the transaction, the director directly owned 12,000 shares in the company, valued at C$840,792. This trade represents a 76.92% decrease in their ownership of the stock. 0.03% of the stock is currently owned by corporate insiders.

TC Energy Company Profile

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.