TC Energy (TSE:TRP) Shares Pass Above 200 Day Moving Average – What’s Next?

TC Energy Co. (TSE:TRP) (NYSE:TRP) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$84.48 and traded as high as C$96.81. TC Energy shares last traded at C$95.96, with a volume of 1,711,716 shares.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TRP shares. Barclays raised their target price on TC Energy from C$88.00 to C$92.00 in a research note on Monday, May 4th. TD raised their target price on TC Energy from C$90.00 to C$98.00 and gave the stock a “hold” rating in a research note on Tuesday, May 26th. Morgan Stanley cut TC Energy from an “overweight” rating to an “equal weight” rating and set a C$103.00 target price on the stock. in a research note on Wednesday, June 10th. Royal Bank Of Canada raised their target price on TC Energy from C$92.00 to C$95.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Finally, National Bank Financial raised their target price on TC Energy from C$92.00 to C$102.00 in a research note on Monday, June 1st. Six equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of “Hold” and an average price target of C$89.86.

TC Energy Stock Performance

The company has a 50-day simple moving average of C$91.01 and a two-hundred day simple moving average of C$84.48. The company has a debt-to-equity ratio of 224.52, a quick ratio of 0.40 and a current ratio of 0.65. The firm has a market capitalization of C$99.97 billion, a P/E ratio of 30.08, a PEG ratio of 1.69 and a beta of 0.70.

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

Insider Buying and Selling

In other news, Director Trevor Ebl sold 5,000 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of C$93.45, for a total value of C$467,250.00. Also, insider Dawn Elizabeth De Lima sold 25,342 shares of the company’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of C$88.73, for a total value of C$2,248,595.66. Following the completion of the sale, the insider owned 18,490 shares of the company’s stock, valued at C$1,640,617.70. This trade represents a 57.82% decrease in their ownership of the stock. 0.03% of the stock is owned by insiders.

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.