Director of TC Energy Co. Buys C$94,367 in Stock

On February 24th, David Brast, a director at TC Energy Co. (TSE:TRP, NYSE:TRP), made a significant investment by purchasing 1,475 shares of the company’s stock. The shares were acquired at an average price of C$63.98 each, resulting in a total expenditure of C$94,367.85.

Recent Trading Activity

Following this transaction, TC Energy's stock saw a decrease of 1.2% on the same day, closing down C$0.79 at C$63.19. A total of 2,557,751 shares changed hands, which is lower than the average volume of 4,321,492 shares. The company's 50-day moving average is C$66.73, while the 200-day moving average stands at C$65.05. Over the past year, TC Energy's stock has experienced a low of C$43.83 and a high of C$70.32. The company demonstrates a quick ratio of 0.40, a current ratio of 1.31, and a debt-to-equity ratio of 237.62. Currently, the market capitalization of TC Energy is C$65.16 billion, with a price-to-earnings (P/E) ratio of 12.57 and a price-to-earnings-growth (PEG) ratio of 1.69. The stock also has a beta of 0.82, indicating lower volatility compared to the market.

Analysts' Perspective on TC Energy

Many analysts have shared their views on TC Energy recently. US Capital Advisors upgraded the company from a "hold" rating to a "moderate buy" rating on February 3rd. Furthermore, ATB Capital increased their price target from C$64.00 to C$65.00 on November 8th. TD Securities set a target price of C$73.00 for TC Energy, assigning a "buy" rating on January 15th. In contrast, Raymond James raised their rating to "hold" on November 21st. Additionally, JPMorgan Chase & Co. adjusted their price objective from C$70.00 to C$79.00 on November 18th. At present, six analysts rated the stock as a hold, five as a buy, and three as a strong buy. The average rating among analysts is classified as "Moderate Buy," with a mean target price of C$73.25 according to MarketBeat data.

Company Overview

TC Energy Corporation is a prominent energy infrastructure company operating in North America. The company consists of five key segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Power and Energy Solutions. TC Energy manages an expansive network of approximately 93,600 kilometers of natural gas pipelines, transporting gas from production areas to various endpoints, including local distribution companies, power generation facilities, industrial sites, and LNG export terminals.

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