TC Energy (TSE:TRP) Hits New 1-Year High After Insider Buying Activity

TC Energy Co. (TSE:TRP) (NYSE:TRP) shares hit a new 52-week high during mid-day trading on Thursday after an insider bought additional shares in the company. The stock traded as high as C$70.37 and last traded at C$70.10, with a volume of 1090248 shares changing hands. The stock had previously closed at C$69.20.

Specifically, Director Joshua Gibbon bought 600 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were bought at an average cost of C$69.15 per share, with a total value of C$41,492.88. Also, Director Trevor Ebl bought 1,470 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was purchased at an average cost of C$67.85 per share, for a total transaction of C$99,732.15.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TRP. BMO Capital Markets upped their price target on shares of TC Energy from C$70.00 to C$73.00 in a research note on Friday, November 29th. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Jefferies Financial Group upped their price target on shares of TC Energy from C$65.00 to C$71.00 in a research note on Thursday, January 30th. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Finally, TD Securities set a C$73.00 price target on shares of TC Energy and gave the company a “buy” rating in a research note on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, TC Energy currently has an average rating of “Moderate Buy” and a consensus target price of C$73.25.

TC Energy Price Performance

The company has a current ratio of 1.31, a quick ratio of 0.40 and a debt-to-equity ratio of 237.62. The firm has a market cap of C$71.67 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The company’s 50-day moving average is C$66.49 and its 200-day moving average is C$65.84.

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.