Insider Buying at TC Energy Co.: Director Acquires C$94,367 in Stock

On February 24th, David Brast, a director at TC Energy Co. (TSE:TRP), made a significant purchase of the company's stock. He acquired 1,475 shares at an average price of C$63.98 each, totaling C$94,367.85. This insider buying may indicate Brast's confidence in the company's future performance.

Recent Trading Activity

On that same day, TC Energy's stock traded down by 1.2%, falling C$0.79 to reach a price of C$63.19 per share. The total number of shares traded was 2,557,751, which is lower than its average 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 ranged from a low of C$43.83 to a high of C$70.32. Financial metrics for the company include a quick ratio of 0.40, a current ratio of 1.31, and a debt-to-equity ratio of 237.62. The company's market capitalization stands at 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.

Analyst Ratings and Outlook

Wall Street analysts have expressed a positive outlook for TC Energy. On February 3rd, US Capital Advisors upgraded the company's rating from "hold" to "moderate buy." ATB Capital also raised its price target on TC Energy from C$64.00 to C$65.00 in a November report. TD Securities set a target price of C$73.00 with a "buy" rating, while Raymond James upgraded the rating to "hold" in late November. Finally, JPMorgan Chase & Co. increased its target price for TC Energy from C$70.00 to C$79.00. Current ratings from analysts include six hold ratings, five buy ratings, and three strong buy ratings, leading to an average rating of "Moderate Buy" and an average price target of C$73.25.

About TC Energy Co.

TC Energy Corporation is a major player in energy infrastructure within North America. The company operates through five 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 consisting of 93,600 kilometers of natural gas pipelines, which facilitate the transportation of natural gas from supply areas to various destinations, including local distribution companies, power generation facilities, and other industrial operations.

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