TC Energy (TSE:TRP) Stock Crosses Below 200-Day Moving Average - What's Next?

Key Points

• TC Energy shares fell below their 200-day moving average of C$90.80, reaching C$86.70 before last trading at C$87.45 on elevated volume.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus from 15 analysts and an average price target of C$95.64, despite one downgrade from Morgan Stanley.
• The company reported quarterly EPS of C$0.94 on C$3.96 billion in revenue, while its high debt-to-equity ratio of 229.63 highlights a significant leverage consideration for investors.

TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP shares crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TRP shares. ATB Cormark Capital Markets boosted their target price on shares of TC Energy from C$98.00 to C$100.00 and gave the company a "sector perform" rating in a report on Friday, July 31st. Barclays increased their price target on shares of TC Energy from C$100.00 to C$102.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Morgan Stanley cut shares of TC Energy from an "overweight" rating to an "equal weight" rating and set a C$103.00 price target for the company. in a research report on Wednesday, June 10th. National Bank Financial boosted their price objective on shares of TC Energy from C$102.00 to C$103.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Finally, US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a report on Thursday, August 20th. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of C$95.64.

TC Energy Trading Up 1.1%

The company has a market cap of C$91.10 billion, a P/E ratio of 26.18, a PEG ratio of 1.69 and a beta of 0.68. The stock's 50 day moving average is C$91.74 and its 200-day moving average is C$90.80. The company has a current ratio of 0.61, a quick ratio of 0.40 and a debt-to-equity ratio of 229.63.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last released its quarterly earnings data on Thursday, July 30th. The company reported C$0.94 earnings per share for the quarter. The business had revenue of C$3.96 billion during 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 3.5490515 earnings per share for the current fiscal year.

Insider Buying and Selling at TC Energy

In related news, insider Yvonne Frame-Zawalykut sold 1,500 shares of the business's 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 value of C$147,585.00. 0.03% of the stock is owned by company insiders.

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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