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

TC Energy (TSE:TRP) (NYSE:TRP) was upgraded by equities researchers at TD Securities to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts also recently weighed in on the company. Barclays upped their target price on TC Energy from C$67.00 to C$74.00 in a research note on Wednesday, November 20th. ATB Capital upped their price target on TC Energy from C$64.00 to C$65.00 in a research report on Friday, November 8th. Jefferies Financial Group raised their price objective on shares of TC Energy from C$64.00 to C$65.00 in a research report on Wednesday, November 20th. Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada boosted their price target on shares of TC Energy from C$67.00 to C$71.00 in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, TC Energy has an average rating of “Moderate Buy” and a consensus price target of C$71.62.

TC Energy Trading Up 0.9 %

Shares of TSE:TRP opened at C$67.16 on Tuesday. The company has a market capitalization of C$69.85 billion, a PE ratio of 20.29, a PEG ratio of 1.69 and a beta of 0.82. TC Energy has a 12-month low of C$43.83 and a 12-month high of C$70.32. The business has a 50 day moving average of C$67.62 and a two-hundred day moving average of C$62.66. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 EPS for the quarter, beating the consensus estimate of C$0.97 by C$0.06. The company 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, analysts forecast that TC Energy will post 3.5490515 EPS for the current year.

Insiders Place Their Bets

In related news, Senior Officer Stanley G. Chapman Iii sold 267,435 shares of the company’s 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, Senior Officer Nancy Angenita Johnson sold 3,328 shares of TC Energy stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of C$67.75, for a total value of C$225,472.00. Over the last quarter, insiders have sold 420,911 shares of company stock valued at $28,259,105. 0.03% of the stock is owned by corporate insiders.

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.