TC Energy (TSE:TRP) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

TC Energy Co. (TSE:TRP) (NYSE:TRP)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$70.80 and traded as high as C$75.24. TC Energy shares last traded at C$73.83, with a volume of 5,664,957 shares trading hands.

Wall Street Analysts Forecast Growth

TRP has been the subject of several recent analyst reports. Barclays upped their price objective on shares of TC Energy from C$75.00 to C$80.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Jefferies Financial Group upped their price target on shares of TC Energy from C$73.00 to C$74.00 in a report on Tuesday, November 11th. Raymond James Financial raised their price target on TC Energy from C$70.00 to C$72.00 in a research report on Monday, November 10th. Royal Bank Of Canada boosted their price objective on TC Energy from C$74.00 to C$84.00 in a research report on Friday, November 7th. Finally, CIBC upgraded TC Energy from a “neutral” rating to an “outperform” rating and increased their target price for the company from C$77.00 to C$78.00 in a research note on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$78.20.

TC Energy Stock Down 2.0%

The firm’s 50-day simple moving average is C$73.96 and its 200-day simple moving average is C$70.80. The company has a debt-to-equity ratio of 237.62, a quick ratio of 0.40 and a current ratio of 1.31. The company has a market capitalization of C$76.86 billion, a price-to-earnings ratio of 22.58, a price-to-earnings-growth ratio of 1.69 and a beta of 0.90.

TC Energy (TSE:TRP) (NYSE:TRP) last released its earnings results on Thursday, November 6th. The company reported C$0.77 earnings per share for the quarter. TC Energy had a net margin of 32.39% and a return on equity of 17.25%. The business had revenue of C$3.70 billion during the quarter. Sell-side analysts forecast that TC Energy Co. will post 3.5490515 earnings per share for the current year.

About TC Energy

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.