TC Energy (TSE:TRP) Shares Cross Above 200 Day Moving Average - Here's What Happened

TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$66.42 and traded as high as C$66.93. TC Energy shares last traded at C$66.59, with a volume of 7,840,356 shares traded.

Analyst Ratings Changes

TRP has been the topic of several research reports. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. Jefferies Financial Group lifted their price objective on TC Energy from C$65.00 to C$71.00 in a report on Thursday, January 30th. Citigroup raised TC Energy to a "hold" rating in a report on Friday, April 4th. Veritas upgraded TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Finally, CIBC increased their price objective on shares of TC Energy from C$68.00 to C$70.00 and gave the stock a "neutral" rating in a research note on Thursday, January 9th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of C$73.25.

TC Energy Trading Up 1.0 %

The firm has a market capitalization of C$70.60 billion, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The stock's 50-day simple moving average is C$66.61 and its two-hundred day simple moving average is C$66.52. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40.

Insider Buying and Selling

In related news, Director Gregory Romero bought 1,600 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average price of C$43.95 per share, for a total transaction of C$70,319.84. Also, Director Francois Lionel Poirier purchased 4,800 shares of TC Energy stock in a transaction on Tuesday, February 18th. The stock was bought at an average price of C$65.05 per share, for a total transaction of C$312,239.52. In the last quarter, insiders bought 13,287 shares of company stock valued at $842,568 and sold 145,977 shares valued at $9,810,511. 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.