TC Energy (TSE:TRP) Share Price Crosses Below Two Hundred Day Moving Average - Time to Sell?

TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP's stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$67.28 and traded as low as C$63.97. TC Energy shares last traded at C$65.19, with a volume of 10,972,559 shares.

Wall Street Analysts Forecast Growth

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

TC Energy Stock Performance

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 stock has a market cap of C$67.47 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The business has a 50 day moving average price of C$68.08 and a two-hundred day moving average price of C$67.29.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 5.20%. TC Energy's payout ratio is 76.37%.

Insiders Place Their Bets

In other news, Director Troy Tally sold 2,477 shares of the firm's stock in a transaction dated 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 Russell Mahan sold 11,424 shares of TC Energy stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of C$70.22, for a total transaction of C$802,193.28. Insiders have sold a total of 45,070 shares of company stock valued at $3,141,916 over the last quarter. 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.