TC Energy (TSE:TRP) Share Price Passes Above 200-Day Moving Average – Should You Sell?

TC Energy Co. (TSE:TRP) (NYSE:TRP)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$86.13 and traded as high as C$95.16. TC Energy shares last traded at C$94.12, with a volume of 9,175,831 shares.

Analyst Upgrades and Downgrades

TRP has been the topic of several analyst reports. Canadian Imperial Bank of Commerce lifted their target price on shares of TC Energy from C$89.00 to C$94.00 in a research note on Monday, May 4th. Raymond James Financial raised their price target on shares of TC Energy from C$74.00 to C$78.00 in a report on Monday, March 30th. TD set a C$98.00 price objective on shares of TC Energy and gave the company a “hold” rating in a research report on Thursday, June 25th. National Bank Financial upped their price objective on shares of TC Energy from C$92.00 to C$102.00 in a research note on Monday, June 1st. Finally, Royal Bank Of Canada increased their target price on shares of TC Energy from C$92.00 to C$95.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Six analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, TC Energy has a consensus rating of “Hold” and an average price target of C$89.86.

TC Energy Stock Up 0.6%

The company has a debt-to-equity ratio of 224.52, a current ratio of 0.65 and a quick ratio of 0.40. The stock has a market capitalization of C$98.67 billion, a PE ratio of 29.69, a PEG ratio of 1.69 and a beta of 0.69. The company has a 50 day moving average price of C$93.76 and a 200-day moving average price of C$86.19.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings results on Friday, May 1st. The company reported C$0.99 EPS for the quarter. The company had revenue of C$3.86 billion during the quarter. TC Energy had a return on equity of 12.53% and a net margin of 21.83%. As a group, analysts forecast that TC Energy Co. will post 3.5490515 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Yvonne Frame-Zawalykut sold 1,500 shares of TC Energy stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of C$98.39, for a total transaction of C$147,585.00. Also, Director Trevor Ebl sold 5,000 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of C$93.45, for a total transaction of C$467,250.00. Company insiders own 0.03% of the company’s stock.

TC Energy Company Profile

TC Energy Corp operates as an energy infrastructure company, consisting of pipeline and power generation assets in Canada, the United States, and Mexico. Its pipeline network consists of over 92,600 kilometers (57,500 miles) of natural gas pipeline, along with 4,900 kilometers (3,000) miles) from the Keystone Pipeline system. The company also owns or has interests in 11 power-generation facilities with a capacity of 6,600 megawatts.