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

TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP's share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$67.32 and traded as low as C$64.14. TC Energy shares last traded at C$64.80, with a volume of 16,250,293 shares trading hands.

Wall Street Analysts Forecast Growth

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

TC Energy Price Performance

The stock has a market cap of C$66.82 billion, a P/E ratio of 12.89, 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. The business's fifty day moving average price is C$68.46 and its 200 day moving average price is C$67.32.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 5.25%. TC Energy's dividend payout ratio (DPR) is currently 76.37%.

Insider Transactions at TC Energy

In other news, Director Russell Mahan sold 11,424 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of C$70.22, for a total value of C$802,193.28. Also, Director Alexandra M. Costello sold 6,159 shares of the company's stock in a transaction that occurred on Monday, May 26th. The shares were sold at an average price of C$69.55, for a total value of C$428,378.77. Over the last 90 days, insiders sold 45,070 shares of company stock valued at $3,141,916. 0.03% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.