TC Energy (TSE:TRP) Stock Price Crosses Above 200-Day Moving Average – What’s Next?
by Kim Johansen · The Markets DailyTC Energy Co. (TSE:TRP – Get Free Report) (NYSE:TRP) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$79.07 and traded as high as C$84.09. TC Energy shares last traded at C$82.77, with a volume of 3,575,375 shares.
Analysts Set New Price Targets
TRP has been the subject of several analyst reports. ATB Cormark Capital Markets increased their price target on shares of TC Energy from C$73.00 to C$80.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 17th. Jefferies Financial Group increased their price target on shares of TC Energy from C$80.00 to C$88.00 in a report on Tuesday, February 17th. Royal Bank Of Canada increased their target price on shares of TC Energy from C$84.00 to C$92.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. TD Securities cut shares of TC Energy from a “buy” rating to a “hold” rating and increased their target price for the company from C$84.00 to C$88.00 in a report on Tuesday, February 17th. Finally, National Bank Financial increased their target price on shares of TC Energy from C$85.00 to C$86.00 and gave the company a “hold” rating in a report on Tuesday, February 17th. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, TC Energy presently has an average rating of “Hold” and a consensus price target of C$86.18.
Read Our Latest Analysis on TRP
TC Energy Stock Up 0.2%
The firm’s 50-day moving average price is C$86.50 and its 200 day moving average price is C$79.13. The firm has a market capitalization of C$86.38 billion, a price-to-earnings ratio of 25.36, a price-to-earnings-growth ratio of 1.69 and a beta of 0.72. The company has a debt-to-equity ratio of 223.25, a current ratio of 0.63 and a quick ratio of 0.40.
TC Energy (TSE:TRP – Get Free Report) (NYSE:TRP) last released its quarterly earnings results on Friday, February 13th. The company reported C$0.98 EPS for the quarter. The business had revenue of C$4.17 billion for the quarter. TC Energy had a net margin of 23.23% and a return on equity of 12.80%. Sell-side analysts expect that TC Energy Co. will post 3.5490515 EPS for the current year.
Insider Activity at TC Energy
In other news, insider Dawn Elizabeth De Lima sold 25,342 shares of the stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of C$88.73, for a total value of C$2,248,595.66. Following the sale, the insider directly owned 18,490 shares in the company, valued at C$1,640,617.70. This represents a 57.82% decrease in their ownership of the stock. 0.03% of the stock is owned by corporate 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.