TC Energy (TSE:TRP) Stock Rating Reaffirmed by BMO Capital Markets

TC Energy (TSE:TRP) (NYSE:TRP)‘s stock had its “outperform” rating restated by equities researchers at BMO Capital Markets in a report released on Tuesday, Stock Target Advisor reports.

TRP has been the topic of several other research reports. CSFB upped their target price on TC Energy from C$70.00 to C$77.00 in a research report on Thursday, June 17th. Tudor Pickering reaffirmed a “buy” rating and set a C$63.00 price objective on shares of TC Energy in a research report on Thursday, September 16th. Tudor Pickering & Holt set a C$63.00 target price on shares of TC Energy and gave the company a “buy” rating in a research report on Friday. UBS Group restated a “buy” rating and issued a C$66.00 price target on shares of TC Energy in a report on Tuesday, August 3rd. Finally, Credit Suisse Group increased their price objective on shares of TC Energy to C$77.00 and gave the stock an “outperform” rating in a research report on Thursday, June 17th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$68.50.

TSE TRP traded up C$0.61 during mid-day trading on Tuesday, reaching C$61.91. 1,160,093 shares of the stock were exchanged, compared to its average volume of 4,148,188. The stock has a market cap of C$60.61 billion and a P/E ratio of 30.21. The company has a debt-to-equity ratio of 162.89, a current ratio of 0.61 and a quick ratio of 0.45. TC Energy has a one year low of C$50.61 and a one year high of C$65.44. The stock has a 50 day simple moving average of C$60.80 and a 200-day simple moving average of C$60.76.

In related news, Director James Eckert bought 1,643 shares of the company’s stock in a transaction on Tuesday, August 3rd. The shares were purchased at an average cost of C$64.24 per share, for a total transaction of C$105,542.71. Following the completion of the purchase, the director now directly owns 4,874 shares in the company, valued at C$313,095.04. Also, Director Mary Catharine Davis sold 1,675 shares of TC Energy stock in a transaction that occurred on Monday, August 16th. The stock was sold at an average price of C$59.99, for a total transaction of C$100,480.24. Following the completion of the sale, the director now directly owns 2,446 shares in the company, valued at approximately C$146,731.14. Over the last ninety days, insiders bought 2,284 shares of company stock valued at $143,587 and sold 11,465 shares valued at $712,789.

About TC Energy

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Power and Storage segments. The company builds and operates 93,400 km network 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.

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