Insider Selling at TC Energy Co.: Director Sells 6,771 Shares

TC Energy Co. (TSE:TRP - Get Free Report) saw some significant insider trading recently, as director Robert Black sold 6,771 shares of the company’s stock on Friday, March 21st. The shares were sold at an average price of C$69.98, which resulted in a total transaction value of C$473,811.56. After this sale, Black now holds just 700 shares of the company, valued at around C$48,983.62. This sale reflects a drastic reduction, amounting to a 90.63% decrease in his overall ownership of TC Energy stock.

TC Energy Price Movement

On the same day as the sale, TC Energy's stock price experienced a slight decline of C$0.92 during trading periods, bringing the closing price down to C$69.50. A total of 10,817,990 shares exchanged hands that day, which is significantly higher than the average trading volume of 4,947,942 shares. The company’s stock has maintained a 50-day moving average of C$66.45 and a 200-day moving average of C$65.79. Current financial ratios include a current ratio of 1.31, a quick ratio of 0.40, and a notable debt-to-equity ratio of 237.62. Over the past year, TC Energy’s stock has reached a low of C$43.83 and a high of C$70.61, while the company now holds a market capitalization of C$71.67 billion, a PE ratio of 13.82, and a price-to-earnings-growth ratio of 1.69.

Recent Analyst Ratings

TC Energy has been featured in several recent analyst reports, reflecting differing opinions about the stock. CIBC recently raised their price target for TC Energy from C$68.00 to C$70.00 and assigned a "neutral" rating in their report published on January 9th. On the other hand, BMO Capital Markets increased their price target from C$70.00 to C$73.00 in a report published on November 29th. Veritas upgraded the stock from a “strong sell” to a “strong buy” rating as of February 18th. Additionally, TD Securities set their target price for TC Energy shares at C$73.00 with a "buy" recommendation in a report issued on January 15th. Royal Bank of Canada also raised their target price from C$71.00 to C$74.00 on February 18th. Overall, six analysts have advised holding the stock, five recommend buying, and three suggest a strong buy. MarketBeat currently reports an average rating of "Moderate Buy" for TC Energy, along with a consensus price target of C$73.25.

About TC Energy

TC Energy Corporation is an energy infrastructure company that mainly operates in North America. The company manages 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 is responsible for building and maintaining a vast network of 93,600 kilometers of natural gas pipelines that transport natural gas from production areas to various clients, including local distribution companies and power generation facilities.

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