TC Energy (TSE:TRP) Shares Pass Above 200 Day Moving Average - Here's Why

Key Points

• TC Energy shares have recently crossed above their 200-day moving average, currently trading at C$71.65, indicating a positive trend in the stock's performance.
• Analysts have mixed viewpoints on TC Energy, with price targets ranging from C$68.00 to C$76.00 and an average rating of "Moderate Buy."
• The company has announced a quarterly dividend of $0.85, reflecting a strong annual yield of 4.7% and a dividend payout ratio of 85.36%.

TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$67.71 and traded as high as C$71.96. TC Energy shares last traded at C$71.65, with a volume of 3,932,944 shares changing hands.

Analyst Ratings Changes

A number of research analysts have commented on TRP shares. Barclays upped their price target on TC Energy from C$74.00 to C$75.00 in a research report on Thursday, August 14th. National Bankshares boosted their price target on shares of TC Energy from C$75.00 to C$76.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Citigroup set a C$75.00 price target on shares of TC Energy and gave the company a "neutral" rating in a research report on Friday, September 5th. US Capital Advisors cut shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. Finally, Jefferies Financial Group reduced their price target on shares of TC Energy from C$71.00 to C$68.00 in a research report on Wednesday, July 23rd. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of C$74.46.

TC Energy Trading Up 0.1%

The stock has a 50-day simple moving average of C$68.13 and a two-hundred day simple moving average of C$67.77. 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 firm has a market cap of C$74.92 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.69 and a beta of 0.92.

TC Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 4.7%. TC Energy's dividend payout ratio (DPR) is presently 85.36%.

Insider Buying and Selling

In other TC Energy news, Director Francois Lionel Poirier sold 53,946 shares of TC Energy stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of C$70.49, for a total value of C$3,802,669.72. Following the completion of the sale, the director owned 113,550 shares of the company's stock, valued at approximately C$8,004,173.57. The trade was a 32.21% decrease in their position. Also, Director Siim A. Vanaselja sold 40,000 shares of TC Energy stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of C$70.07, for a total transaction of C$2,802,640.00. Following the completion of the sale, the director directly owned 12,000 shares of the company's stock, valued at approximately C$840,792. This trade represents a 76.92% decrease in their position. Insiders own 0.03% of the company's stock.

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.