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

On March 21st, 2023, Robert Black, a director at TC Energy Co. (TSE:TRP, NYSE:TRP), sold a total of 6,771 shares of the company's stock. The shares were sold at an average price of C$69.98, accumulating a total sale value of C$473,811.56. After the sale, Director Black retained ownership of 700 shares, which are currently valued at approximately C$48,983.62. This transaction indicates a significant reduction of 90.63% in their ownership of TC Energy stock.

TC Energy Price Performance

During trading on Friday, TC Energy's stock experienced a slight decline of C$0.92, closing at C$69.50. The trading volume for the day reached 10,817,990 shares, notably higher than the average volume of 4,947,942 shares. The company's fifty-day moving average stands at C$66.45, while the 200-day moving average is C$65.79. Financial ratios reveal 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 has seen a low of C$43.83 and a high of C$70.61. The market capitalization is 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, complemented by a beta of 0.82.

Analyst Upgrades and Downgrades

Recent analysts have issued various reports on TC Energy. CIBC raised their price objective from C$68.00 to C$70.00, maintaining a "neutral" rating on January 9th. Similarly, BMO Capital Markets increased their price target for TC Energy from C$70.00 to C$73.00 on November 29th. Veritas shifted their rating from "strong sell" to "strong buy" on February 18th. TD Securities established a C$73.00 target price with a "buy" rating on January 15th. Lastly, Royal Bank of Canada adjusted their target from C$71.00 to C$74.00 on the same day. Currently, six analysts have rated TC Energy with a hold rating, five analysts have given it a buy rating, and three have issued a strong buy rating. According to MarketBeat, TC Energy holds an average rating of "Moderate Buy" with a consensus price target of C$73.25.

About TC Energy

TC Energy Corporation is a leading energy infrastructure company operating across North America. It has five main segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Power and Energy Solutions. The organization manages a vast network, encompassing 93,600 kilometers of natural gas pipelines, which transport natural gas from supply basins to distribution companies, power stations, industrial facilities, as well as various other businesses.

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