TC Energy (TSE:TRP) Shares Cross Above 200-Day Moving Average - Time to Sell?

Key Points

• TC Energy's shares have crossed above their 200-day moving average, trading at C$70.93, which suggests positive momentum in the stock's performance.
• The company has recently announced a quarterly dividend of $0.85 per share, with a dividend yield of 4.8%, indicating a solid return for shareholders.
• Multiple analysts have upgraded their price targets for TC Energy, with a consensus price target of C$74.42 and a general rating of "Moderate Buy".

Shares of TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$67.21 and traded as high as C$71.04. TC Energy shares last traded at C$70.93, with a volume of 1,813,338 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TRP. Jefferies Financial Group reduced their price objective on shares of TC Energy from C$71.00 to C$68.00 in a research note on Wednesday, July 23rd. Barclays upped their target price on shares of TC Energy from C$74.00 to C$75.00 in a research report on Thursday, August 14th. TD Securities upped their target price on shares of TC Energy from C$74.00 to C$76.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. CIBC raised their target price on shares of TC Energy from C$71.00 to C$76.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, Scotiabank raised their target price on shares of TC Energy from C$75.00 to C$77.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$74.42.

TC Energy Stock Up 1.8%

The company has a debt-to-equity ratio of 237.62, a quick ratio of 0.40 and a current ratio of 1.31. The business's 50 day moving average is C$66.42 and its 200 day moving average is C$67.21. The company has a market capitalization of C$73.15 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 1.69 and a beta of 0.82.

TC Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 4.8%. TC Energy's dividend payout ratio (DPR) is 76.37%.

Insider Buying and Selling

In related news, Director Troy Tally sold 2,477 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of C$69.19, for a total value of C$171,395.07. Also, Director Alexandra M. Costello sold 6,159 shares of the company's stock in a transaction on Monday, May 26th. The stock was sold at an average price of C$69.55, for a total transaction of C$428,378.77. In the last quarter, insiders sold 20,060 shares of company stock valued at $1,401,967. 0.03% of the stock is owned by corporate insiders.

About TC Energy

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.

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