TC Energy (TSE:TRP) Reaches New 52-Week High After Insider Buying Activity

TC Energy Co. (TSE:TRP) (NYSE:TRP)’s share price reached a new 52-week high on Thursday after an insider bought additional shares in the company. The company 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 acquired 600 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were purchased at an average price of C$69.15 per share, for a total transaction of C$41,492.88. Also, Director Trevor Ebl bought 1,470 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were 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 have recently weighed in on TRP. Raymond James upgraded shares of TC Energy to a “hold” rating in a research note on Thursday, November 21st. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Scotiabank boosted their price target on shares of TC Energy from C$74.00 to C$75.00 in a research report on Wednesday, November 20th. Royal Bank of Canada boosted their target price on shares of TC Energy from C$71.00 to C$74.00 in a research report on Tuesday, February 18th. Finally, Jefferies Financial Group upped their price objective on shares of TC Energy from C$65.00 to C$71.00 in a research report on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$73.25.

TC Energy Stock Up 1.4 %

The stock has a market capitalization of C$72.37 billion, a P/E ratio of 13.96, a P/E/G ratio of 1.69 and a beta of 0.82. 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 stock’s 50-day moving average price is C$66.42 and its two-hundred day moving average price is C$65.76.

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.