Insider Buying: TC Energy Co. Director Invests C$94,367.85 in Stock

TC Energy Co. (TSE:TRP - Get Free Report) recently saw one of its directors, David Brast, make a significant purchase of the company’s shares. On February 24th, he acquired 1,475 shares at an average price of C$63.98 per share, which totaled C$94,367.85.

Market Activity

On the same day, TC Energy's stock experienced a decline of 1.2%, falling by C$0.79 to reach a trading price of C$63.19. During this trading session, 2,557,751 shares changed hands, compared to the company’s average trading volume of 4,321,492 shares. The company currently has a 50-day moving average of C$66.73 and a 200-day moving average of C$65.05. Over the past year, TC Energy's stock has varied considerably, with a low of C$43.83 and a high of C$70.32. The firm has a market capitalization of C$65.16 billion, a P/E ratio of 12.57, and a price-to-earnings-growth ratio of 1.69, indicating a stable financial position. Additionally, the quick ratio is recorded at 0.40, while the current ratio is at 1.31, and the debt-to-equity ratio stands at 237.62.

Analyst Ratings and Future Prospects

Wall Street analysts have positive forecasts regarding TC Energy’s potential performance. For instance, on February 3rd, US Capital Advisors upgraded the company’s rating from “hold” to “moderate buy.” Meanwhile, ATB Capital raised its price target on TC Energy shares from C$64.00 to C$65.00 in a report dated November 8th. Moreover, TD Securities assigned a target price of C$73.00 while giving the stock a “buy” rating in a report published on January 15th. Analysts from Raymond James also upgraded TC Energy’s rating to “hold” on November 21st. Additionally, JPMorgan Chase increased the price target from C$70.00 to C$79.00 in a report released on November 18th. Currently, six analysts have given the stock a “hold” rating, five have rated it as “buy,” and three have assigned a “strong buy” rating. Thus, MarketBeat indicates that the average rating for TC Energy’s stock is “Moderate Buy,” with an average price target of C$73.25.

About TC Energy

TC Energy Corporation operates as a key part of the energy infrastructure sector in North America. The company functions through five main segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Power and Energy Solutions. TC Energy maintains an extensive network of approximately 93,600 kilometers of natural gas pipelines, facilitating the transportation of natural gas from supply areas to local distribution companies, electricity generation facilities, industrial locations, and other businesses.

Final Thoughts

With recent insider buying activity and positive analyst ratings, TC Energy continues to be a noteworthy player in the energy infrastructure market. Investors interested in potential opportunities may want to keep an eye on the stock's developments going forward.

Insider, Buying, Stocks