TC Energy (TSE:TRP) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Key Points

• Technical breakout: TRP shares crossed above their 200-day moving average (C$79.07), trading as high as C$84.09 and last at C$82.77 on volume of about 3.58 million shares.
• Analyst views mixed: Multiple firms raised price targets (RBC C$92, TD C$88, CIBC C$85), but consensus remains an average "Hold" rating with an average target of C$86.18.
• Financials & insider activity: The company reported Q EPS of C$0.98 and a 23.2% net margin with a C$86.2B market cap, but carries a very high debt/equity ratio (223.25) and an insider sold ~25,342 shares (~C$2.25M) in March.

TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP's share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$79.07 and traded as high as C$84.09. TC Energy shares last traded at C$82.77, with a volume of 3,575,375 shares.

Wall Street Analyst Weigh In

TRP has been the subject of several recent analyst reports. Royal Bank Of Canada raised their target price on TC Energy from C$84.00 to C$92.00 and gave the company an "outperform" rating in a research note on Tuesday, February 17th. TD Securities downgraded TC Energy from a "buy" rating to a "hold" rating and increased their price target for the company from C$84.00 to C$88.00 in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce lowered TC Energy from an "outperform" rating to a "hold" rating and raised their price objective for the company from C$81.00 to C$85.00 in a research note on Tuesday, February 17th. ATB Cormark Capital Markets lifted their price objective on TC Energy from C$73.00 to C$80.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 17th. Finally, Raymond James Financial upped their target price on TC Energy from C$74.00 to C$78.00 in a research report on Monday, March 30th. Four analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, TC Energy presently has an average rating of "Hold" and an average target price of C$86.18.

TC Energy Price Performance

The company has a quick ratio of 0.40, a current ratio of 0.63 and a debt-to-equity ratio of 223.25. The business has a 50 day simple moving average of C$86.48 and a 200-day simple moving average of C$79.07. The company has a market capitalization of C$86.22 billion, a P/E ratio of 25.31, a PEG ratio of 1.69 and a beta of 0.72.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last announced its quarterly earnings results on Friday, February 13th. The company reported C$0.98 EPS for the quarter. The company had revenue of C$4.17 billion for the quarter. TC Energy had a net margin of 23.23% and a return on equity of 12.80%. Analysts predict that TC Energy Co. will post 3.5490515 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Dawn Elizabeth De Lima sold 25,342 shares of the firm's stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of C$88.73, for a total transaction of C$2,248,595.66. Following the completion of the sale, the insider directly owned 18,490 shares in the company, valued at approximately C$1,640,617.70. This trade represents a 57.82% decrease in their ownership of the stock. Insiders own 0.03% of the company's stock.

About TC Energy

TC Energy Corp operates as an energy infrastructure company, consisting of pipeline and power generation assets in Canada, the United States, and Mexico. Its pipeline network consists of over 92,600 kilometers (57,500 miles) of natural gas pipeline, along with 4,900 kilometers (3,000) miles) from the Keystone Pipeline system. The company also owns or has interests in 11 power-generation facilities with a capacity of 6,600 megawatts.

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