TC Energy (TSE:TRP) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

TC Energy Co. (TSE:TRP) (NYSE:TRP)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$66.26 and traded as high as C$70.33. TC Energy shares last traded at C$68.66, with a volume of 11,623,356 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TRP shares. Royal Bank of Canada boosted their price objective on shares of TC Energy from C$71.00 to C$74.00 in a report on Tuesday, February 18th. Jefferies Financial Group boosted their target price on TC Energy from C$65.00 to C$71.00 in a research report on Thursday, January 30th. CIBC lifted their price objective on TC Energy from C$68.00 to C$70.00 and gave the company a “neutral” rating in a research note on Thursday, January 9th. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Finally, Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, TC Energy presently has an average rating of “Moderate Buy” and a consensus target price of C$73.25.

TC Energy Trading Down 4.7 %

The firm has a market cap of C$67.46 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 1.69 and a beta of 0.82. The business has a fifty day moving average of C$66.73 and a two-hundred day moving average of C$66.27. The company has a debt-to-equity ratio of 237.62, a quick ratio of 0.40 and a current ratio of 1.31.

Insider Activity

In related news, Director Francois Lionel Poirier acquired 4,800 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of C$65.05 per share, with a total value of C$312,239.52. Also, Senior Officer Dawn Elizabeth De Lima sold 64,802 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of C$69.16, for a total transaction of C$4,481,913.69. Over the last 90 days, insiders bought 13,287 shares of company stock worth $842,568 and sold 145,977 shares worth $9,810,511. Company insiders own 0.03% of the company’s stock.

About TC Energy

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.