TC Energy (TSE:TRP) Stock Price Crosses Below 200 Day Moving Average – Time to Sell?

TC Energy Co. (TSE:TRP) (NYSE:TRP) crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$88.59 and traded as low as C$86.48. TC Energy shares last traded at C$87.52, with a volume of 3,450,738 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TRP shares. Jefferies Financial Group upgraded TC Energy from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$100.00 to C$102.00 in a research report on Tuesday, September 1st. BMO Capital Markets lifted their target price on shares of TC Energy from C$94.00 to C$99.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. TD upgraded shares of TC Energy from a “hold” rating to a “buy” rating and set a C$102.00 price target for the company in a report on Tuesday, September 15th. TD Securities upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, September 14th. Finally, National Bank Financial increased their price target on shares of TC Energy from C$102.00 to C$103.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$96.29.

TC Energy Price Performance

The firm has a 50-day moving average of C$86.15 and a 200-day moving average of C$88.71. The company has a debt-to-equity ratio of 229.63, a quick ratio of 0.40 and a current ratio of 0.61. The firm has a market capitalization of C$91.18 billion, a P/E ratio of 26.20, a PEG ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its earnings results on Thursday, November 5th. The company reported C$0.94 earnings per share (EPS) for the quarter. TC Energy had a return on equity of 13.07% and a net margin of 22.46%. The business had revenue of C$4.03 billion for the quarter. As a group, analysts predict that TC Energy Co. will post 3.55 EPS for the current year.

About TC Energy

We are a leader in North American energy infrastructure, spanning Canada, the U.S. and Mexico. For over 75 years, we have proudly connected the world to the energy it needs. Every day, we move more than 30 per cent of the natural gas used across the continent and connect LNG exports to global markets-powering communities and industries. Complemented by strategic ownership and low-risk investments in power generation, our infrastructure delivers affordable, reliable and sustainable energy across North America.