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

Shares of TC Energy Co. (TSE:TRP) (NYSE:TRP) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$90.80 and traded as low as C$86.70. TC Energy shares last traded at C$87.45, with a volume of 5,479,462 shares changing hands.

Analyst Ratings Changes

TRP has been the subject of a number of recent analyst reports. ATB Cormark Capital Markets increased their target price on shares of TC Energy from C$98.00 to C$100.00 and gave the stock a “sector perform” rating in a research report on Friday, July 31st. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 20th. Morgan Stanley downgraded shares of TC Energy from an “overweight” rating to an “equal weight” rating and set a C$103.00 price target on the stock. in a research report on Wednesday, June 10th. Scotiabank raised their price objective on shares of TC Energy from C$97.00 to C$105.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 21st. Finally, Jefferies Financial Group raised shares of TC Energy from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$100.00 to C$102.00 in a research note on Tuesday, September 1st. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$95.64.

TC Energy Trading Down 2.2%

The company has a market cap of C$89.21 billion, a P/E ratio of 25.64, a P/E/G ratio of 1.69 and a beta of 0.68. The company has a quick ratio of 0.40, a current ratio of 0.61 and a debt-to-equity ratio of 229.63. The business has a 50-day moving average price of C$91.45 and a two-hundred day moving average price of C$90.82.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings results on Thursday, July 30th. The company reported C$0.94 earnings per share (EPS) for the quarter. The business had revenue of C$3.96 billion for the quarter. TC Energy had a return on equity of 13.07% and a net margin of 22.46%. On average, analysts predict that TC Energy Co. will post 3.5490515 EPS for the current year.

Insiders Place Their Bets

In related news, insider Yvonne Frame-Zawalykut sold 1,500 shares of TC Energy stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of C$98.39, for a total transaction of C$147,585.00. 0.03% of the stock is owned by insiders.

About TC Energy

We are a leader in North American energy infrastructure, spanning Canada, the U.S. and Mexico. For over 75 years, we have proudly connected the world to the energy it needs. Every day, we move more than 30 per cent of the natural gas used across the continent and connect LNG exports to global markets-powering communities and industries. Complemented by strategic ownership and low-risk investments in power generation, our infrastructure delivers affordable, reliable and sustainable energy across North America.