TC Energy (TSE:TRP) Stock Price Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• TC Energy's stock price recently surpassed its 200-day moving average, with shares trading at C$71.52, indicating potential upward momentum.
• Analysts have increased their price targets for TC Energy, with options ranging from C$75.00 to C$77.00 and a consensus rating of "Moderate Buy."
• The company declared a quarterly dividend of $0.85, resulting in an annualized yield of 4.8%, demonstrating its commitment to returning value to shareholders.

TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP's share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$67.43 and traded as high as C$71.78. TC Energy shares last traded at C$71.52, with a volume of 4,444,538 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TRP shares. National Bankshares upped their price objective on shares of TC Energy from C$75.00 to C$76.00 and gave the company an "outperform" rating in a report on Friday, August 1st. US Capital Advisors cut shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research note on Thursday, August 21st. Barclays raised their price target on shares of TC Energy from C$74.00 to C$75.00 in a report on Thursday, August 14th. Finally, Jefferies Financial Group decreased their price objective on TC Energy from C$71.00 to C$68.00 in a report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$74.42.

TC Energy Trading Up 0.5%

The company has a fifty day simple moving average of C$67.43 and a two-hundred day simple moving average of C$67.51. The company has a current ratio of 1.31, a quick ratio of 0.40 and a debt-to-equity ratio of 237.62. The company has a market cap of C$74.48 billion, a PE ratio of 17.56, a P/E/G ratio of 1.69 and a beta of 0.92.

TC Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors 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%.

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.