TC Energy (TSE:TRP) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• TC Energy shares moved above their 200-day moving average, reaching C$88.48 before closing at C$88.27, compared with the C$88.18 technical benchmark.
• Analyst sentiment is broadly positive: the stock carries a consensus “Moderate Buy” rating from MarketBeat, with one Strong Buy, ten Buys and four Holds, and an average price target of C$96.29.
• In its latest quarter, TC Energy reported C$0.94 EPS and C$3.96 billion in revenue, alongside a 22.46% net margin and 13.07% return on equity; analysts expect C$3.55 EPS for the current fiscal year.

TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP's share price crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$88.18 and traded as high as C$88.48. TC Energy shares last traded at C$88.27, with a volume of 4,472,244 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Jefferies Financial Group upgraded shares of TC Energy from a "hold" rating to a "buy" rating and boosted their price objective for the stock from C$100.00 to C$102.00 in a report on Tuesday, September 1st. The Goldman Sachs Group upgraded TC Energy from a "hold" rating to a "buy" rating and set a C$71.00 target price for the company in a research note on Wednesday, September 30th. BMO Capital Markets lifted their target price on TC Energy from C$94.00 to C$99.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Scotiabank set a C$105.00 price target on TC Energy and gave the stock a "sector outperform" rating in a research note on Tuesday, September 22nd. Finally, Royal Bank Of Canada raised TC Energy to a "moderate buy" rating in a report on Friday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$96.29.

TC Energy Price Performance

The company has a debt-to-equity ratio of 229.63, a current ratio of 0.61 and a quick ratio of 0.40. The business's 50-day moving average price is C$85.81 and its two-hundred day moving average price is C$88.18. The firm has a market cap of C$91.96 billion, a price-to-earnings ratio of 26.43, a P/E/G ratio of 1.69 and a beta of 0.74.

TC Energy (TSE:TRP - Get Free Report) 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. TC Energy had a net margin of 22.46% and a return on equity of 13.07%. The firm had revenue of C$3.96 billion for the quarter. On average, research analysts forecast that TC Energy Co. will post 3.55 EPS for the current fiscal year.

TC Energy Company Profile

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.

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