Insider Selling: TC Energy Co. (TSE:TRP) Director Sells 6,771 Shares of Stock

On March 21st, the director of TC Energy Co. (TSE:TRP) and NYSE: TRP, Robert Black, sold 6,771 shares of the company's stock. This transaction was conducted at an average price of C$69.98, accumulating a total value of C$473,811.56. After the sale, Black holds only 700 shares of TC Energy stock, which is valued at approximately C$48,983.62, marking a significant reduction of 90.63% in ownership.

TC Energy Price Performance

During trading hours on that Friday, TC Energy's stock price dipped by C$0.92, settling at C$69.50. A total of 10,817,990 shares changed hands, which is higher than the average trading volume of 4,947,942. The company's fifty-day moving average stands at C$66.45, while the 200-day moving average is C$65.79. In terms of financial metrics, TC Energy has a current ratio of 1.31, a quick ratio of 0.40, and a debt-to-equity ratio that sits at 237.62. The stock has seen a one-year low of C$43.83 and a high of C$70.61. In terms of market capitalization, TC Energy is valued at C$71.67 billion, with a price-to-earnings (PE) ratio of 13.82 and a price-to-earnings-growth (PEG) ratio of 1.69. The stock’s beta is recorded at 0.82.

Analyst Upgrades and Downgrades

Several recent research reports have discussed TC Energy's stock performance. On January 9th, CIBC raised their price target for TC Energy shares from C$68.00 to C$70.00, maintaining a "neutral" rating. BMO Capital Markets also increased their price target from C$70.00 to C$73.00 on November 29th. Veritas upgraded TC Energy from a "strong sell" to a "strong buy" on February 18th. Additionally, TD Securities set a price target of C$73.00 and categorized the stock as a "buy" in a research note dated January 15th. Furthermore, the Royal Bank of Canada increased its price target from C$71.00 to C$74.00 on February 18th. Across the board, six analysts recommended holding the stock, five endorsed a buy, and three rated it as a strong buy. Currently, MarketBeat reports that TC Energy has an average rating of "Moderate Buy" with a consensus price target of C$73.25.

About TC Energy

TC Energy Corporation operates as a major energy infrastructure company based in North America. The company manages five segments, which include Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Power and Energy Solutions. TC Energy oversees a vast network of 93,600 kilometers of natural gas pipelines, which transport natural gas to various customers including local distribution companies, power plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.

Insider, Selling, Shares