TC Energy (TSE:TRP) Stock Price Passes Above Two Hundred Day Moving Average - Here's What Happened

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's stock price 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.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. US Capital Advisors lowered TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. Barclays boosted 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 TC Energy from C$75.00 to C$76.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Jefferies Financial Group lowered their price target on TC Energy from C$71.00 to C$68.00 in a research report on Wednesday, July 23rd. Finally, Citigroup set a C$75.00 price target on TC Energy and gave the stock a "neutral" rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$74.46.

TC Energy Price Performance

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 capitalization of C$75.32 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 1.69 and a beta of 0.92. The business has a fifty day moving average of C$68.40 and a two-hundred day moving average of C$67.95.

TC Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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 dividend yield of 4.7%. TC Energy's payout ratio is presently 85.36%.

Insider Transactions at TC Energy

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

TC Energy Company Profile

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.