TC Energy (TSE:TRP) Shares Pass Below Two Hundred Day Moving Average - Time to Sell?

TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$67.46 and traded as low as C$66.60. TC Energy shares last traded at C$66.79, with a volume of 9,893,757 shares.

Analysts Set New Price Targets

A number of research firms have commented on TRP. Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. Citigroup raised shares of TC Energy to a "hold" rating in a report on Friday, April 4th. CIBC increased their price objective on shares of TC Energy from C$71.00 to C$76.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Scotiabank increased their price objective on shares of TC Energy from C$75.00 to C$77.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, TD Securities increased their price objective on shares of TC Energy from C$74.00 to C$76.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, TC Energy has a consensus rating of "Moderate Buy" and a consensus price target of C$74.17.

TC Energy Price Performance

The firm's 50-day moving average is C$68.57 and its two-hundred day moving average is C$67.41. The company has a market cap of C$67.03 billion, a P/E ratio of 12.93, a PEG ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 5.23%. TC Energy's payout ratio is 76.37%.

Insiders Place Their Bets

In other news, Senior Officer Anita Elizabeth Dusevic Oliva acquired 14,000 shares of the company's stock in a transaction on Thursday, May 15th. The stock was bought at an average cost of C$68.92 per share, with a total value of C$964,880.00. Also, Senior Officer Patrick C. Muttart sold 18,629 shares of TC Energy stock in a transaction on Monday, March 24th. The stock was sold at an average price of C$70.10, for a total transaction of C$1,305,885.45. Insiders sold 70,470 shares of company stock valued at $4,921,613 over the last three months. 0.03% of the stock is owned by company insiders.

TC Energy Company Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.