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

Key Points

• TC Energy’s shares fell below their 200-day moving average of C$90.35, trading as low as C$85.02 and last changing hands at C$85.77.
• Despite the technical weakness, analyst sentiment remains favorable: the stock has a consensus “Moderate Buy” rating and an average price target of C$96.29.
• The company reported quarterly EPS of C$0.94 on C$3.96 billion in revenue, with a 22.46% net margin; analysts expect full-year EPS of approximately C$3.55.

TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP's share price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of C$90.35 and traded as low as C$85.02. TC Energy shares last traded at C$85.77, with a volume of 5,986,224 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently commented on TRP. The Goldman Sachs Group raised TC Energy from a "hold" rating to a "buy" rating and set a C$71.00 price target on the stock in a research note on Wednesday, September 30th. TD upgraded TC Energy from a "hold" rating to a "buy" rating and set a C$102.00 price target on the stock in a report on Tuesday, September 15th. National Bank Financial upped their price objective on TC Energy from C$102.00 to C$103.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. US Capital Advisors raised TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Thursday, August 20th. Finally, BMO Capital Markets raised their price objective on shares of TC Energy from C$94.00 to C$99.00 and gave the company an "outperform" rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of C$96.29.

TC Energy Trading Down 1.6%

The company has a market cap of C$89.35 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 1.69 and a beta of 0.74. The business's fifty day moving average price is C$85.89 and its 200 day moving average price is C$90.35. The company has a debt-to-equity ratio of 229.63, a current ratio of 0.61 and a quick ratio of 0.40.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last issued its quarterly earnings data on Thursday, July 30th. The company reported C$0.94 earnings per share for the quarter. The company had revenue of C$3.96 billion for the quarter. TC Energy had a net margin of 22.46% and a return on equity of 13.07%. Research analysts anticipate that TC Energy Co. will post 3.55 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.