TC Energy (TSE:TRP) Hits New 52-Week High Following Insider Buying Activity

TC Energy Co. (TSE:TRP) (NYSE:TRP)’s stock price hit a new 52-week high on Thursday following insider buying activity. The stock traded as high as C$70.37 and last traded at C$70.10, with a volume of 1090248 shares trading hands. The stock had previously closed at C$69.20.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TRP. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Royal Bank of Canada increased their price target on shares of TC Energy from C$71.00 to C$74.00 in a report on Tuesday, February 18th. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. BMO Capital Markets raised their target price on shares of TC Energy from C$70.00 to C$73.00 in a report on Friday, November 29th. Finally, TD Securities set a C$73.00 target price on shares of TC Energy and gave the company a “buy” rating in a report on Wednesday, January 15th. Six analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, TC Energy has an average rating of “Moderate Buy” and an average price target of C$73.25.

TC Energy Price Performance

The company has a market capitalization of C$72.62 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 1.69 and a beta of 0.82. The company’s 50 day simple moving average is C$66.45 and its 200-day simple moving average is C$65.79. 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 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.