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

TC Energy Co. (TSE:TRP - Get Free Report) experienced a notable insider selling event when Director Robert Black sold 6,771 shares of the company’s stock on March 21st. The shares were sold at an average price of C$69.98, resulting in a total sale value of C$473,811.56. After this transaction, Robert Black now holds 700 shares of TC Energy, which are valued at approximately C$48,983.62. This sale marks a significant decrease in his ownership, totaling a 90.63% drop.

TC Energy Price Performance

On the trading day following the sale, TC Energy’s share price fell by C$0.92, reaching C$69.50. The trading volume for TC Energy on that day was 10,817,990 shares, a substantial increase compared to its average volume of 4,947,942 shares. TC Energy holds a fifty-day moving average of C$66.45 and a 200-day moving average of C$65.79. Currently, the company has a current ratio of 1.31, a quick ratio of 0.40, and a debt-to-equity ratio of 237.62. Over the past year, TC Energy’s stock has seen a low of C$43.83 and a high of C$70.61. The firm’s market capitalization stands at C$71.67 billion, a PE ratio of 13.82, with a price-to-earnings-growth ratio of 1.69 and a beta of 0.82.

Analyst Upgrades and Downgrades

Recent research reports have been published concerning TC Energy. CIBC raised its price target for TC Energy stock from C$68.00 to C$70.00 and maintained a "neutral" rating as of January 9th. BMO Capital Markets increased their target from C$70.00 to C$73.00 on November 29th. Veritas upgraded its rating from "strong sell" to "strong buy" on February 18th. TD Securities also set a target price of C$73.00 and issued a "buy" rating on January 15th. Additionally, the Royal Bank of Canada revised its target from C$71.00 to C$74.00. Currently, six analysts rate the stock as a hold, five advise buying, and three label it as a strong buy. Based on insights from MarketBeat, TC Energy holds an overall rating of "Moderate Buy" with a consensus price target of C$73.25.

About TC Energy

TC Energy Corporation serves as an energy infrastructure company operating primarily in North America. Its operations are segmented into five areas: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexican Natural Gas Pipelines, Liquids Pipelines, and Power and Energy Solutions. The company manages a vast network of 93,600 kilometers of natural gas pipelines that transport gas from supply areas to local distribution companies, power generation facilities, industrial sites, LNG export terminals, and more.

Recommendation

If you're considering investing in TC Energy, it's worth noting that it is currently rated as a "Moderate Buy" among analysts. However, some experts have highlighted five other stocks they believe may represent better investment opportunities at this time.

Insider, Selling, Stock