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

TC Energy Co. (TSE:TRP) (NYSE:TRP)’s stock price hit a new 52-week high during trading 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 changing hands. The stock had previously closed at C$69.20.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TRP shares. TD Securities set a C$73.00 price objective on shares of TC Energy and gave the company a “buy” rating in a research note on Wednesday, January 15th. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Veritas raised 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 increased their price objective on shares of TC Energy from C$65.00 to C$71.00 in a research note on Thursday, January 30th. Finally, BMO Capital Markets increased their price objective on shares of TC Energy from C$70.00 to C$73.00 in a research note on Friday, November 29th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$73.25.

TC Energy Stock Performance

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

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.