TC Energy (TSE:TRP) Share Price Passes Above 200-Day Moving Average – Here’s Why

TC Energy Co. (TSE:TRP) (NYSE:TRP)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$61.18 and traded as high as C$66.66. TC Energy shares last traded at C$66.54, with a volume of 4,489,284 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TRP. Barclays boosted their target price on shares of TC Energy from C$67.00 to C$74.00 in a report on Wednesday, November 20th. Jefferies Financial Group raised their price objective on TC Energy from C$64.00 to C$65.00 in a research note on Wednesday, November 20th. Raymond James upgraded TC Energy to a “hold” rating in a research report on Thursday, November 21st. Veritas upgraded TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Finally, ATB Capital raised their target price on shares of TC Energy from C$64.00 to C$65.00 in a report on Friday, November 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, TC Energy has an average rating of “Hold” and a consensus price target of C$69.77.

TC Energy Price Performance

The stock’s 50 day moving average price is C$66.89 and its two-hundred day moving average price is C$61.18. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84. The firm has a market capitalization of C$69.20 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.97 by C$0.06. The company had revenue of C$4.08 billion during the quarter, compared to the consensus estimate of C$3.90 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. Analysts anticipate that TC Energy Co. will post 3.5490515 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $1.113 dividend. This represents a $4.45 annualized dividend and a yield of 6.69%. This is an increase from TC Energy’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, December 31st. TC Energy’s payout ratio is currently 116.01%.

Insider Activity

In related news, Senior Officer Stanley G. Chapman Iii sold 267,435 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of C$66.51, for a total transaction of C$17,785,898.39. Also, Senior Officer Francois Lionel Poirier sold 118,243 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of C$68.38, for a total transaction of C$8,085,219.85. In the last 90 days, insiders have sold 415,911 shares of company stock worth $27,926,605. 0.03% of the stock is owned by corporate insiders.

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.