TC Energy (TSE:TRP) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

Shares of TC Energy Co. (TSE:TRP) (NYSE:TRP) passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of C$90.35 and traded as low as C$85.02. TC Energy shares last traded at C$85.77, with a volume of 5,986,224 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have commented on TRP shares. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. TD upgraded TC Energy from a “hold” rating to a “buy” rating and set a C$102.00 price target on the stock in a research report on Tuesday, September 15th. The Goldman Sachs Group upgraded shares of TC Energy from a “hold” rating to a “buy” rating and set a C$71.00 price objective for the company in a research report on Wednesday, September 30th. Royal Bank Of Canada raised shares of TC Energy to a “moderate buy” rating in a research note on Friday, September 11th. Finally, ATB Cormark Capital Markets increased their target price on TC Energy from C$98.00 to C$100.00 and gave the company a “sector perform” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of “Moderate Buy” and an average price target of C$96.29.

TC Energy Stock Performance

The company has a current ratio of 0.61, a quick ratio of 0.40 and a debt-to-equity ratio of 229.63. The stock has a market capitalization of C$91.09 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 1.69 and a beta of 0.74. The firm’s fifty day moving average price is C$85.86 and its 200 day moving average price is C$90.35.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings results on Thursday, July 30th. The company reported C$0.94 EPS for the quarter. The business had revenue of C$3.96 billion during the quarter. TC Energy had a return on equity of 13.07% and a net margin of 22.46%. Analysts forecast that TC Energy Co. will post 3.55 EPS for the current fiscal 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.