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

Shares of TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$61.18 and traded as high as C$66.66. TC Energy shares last traded at C$66.54, with a volume of 4,489,284 shares trading hands.

Analyst Upgrades and Downgrades

TRP has been the topic of several research analyst reports. CIBC increased their price target on shares of TC Energy from C$67.00 to C$68.00 in a research note on Wednesday, November 20th. Veritas raised TC Energy to a "strong sell" rating in a research note on Tuesday, October 8th. National Bankshares upped their price target on TC Energy from C$70.00 to C$71.00 in a research note on Wednesday, November 20th. BMO Capital Markets lifted their price objective on TC Energy from C$70.00 to C$73.00 in a research report on Friday, November 29th. Finally, UBS Group upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of C$69.77.

TC Energy Stock Up 0.3 %

The company has a market capitalization of C$69.20 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 1.69 and a beta of 0.82. The firm has a 50-day moving average price of C$66.96 and a two-hundred day moving average price of C$61.22. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last released its earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, beating analysts' consensus estimates of C$0.97 by C$0.06. The business had revenue of C$4.08 billion during the quarter, compared to the consensus estimate of C$3.90 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. As a group, sell-side analysts anticipate that TC Energy Co. will post 3.5490515 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $1.113 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from TC Energy's previous quarterly dividend of $0.96. This represents a $4.45 annualized dividend and a dividend yield of 6.69%. TC Energy's payout ratio is currently 116.01%.

Insider Buying and Selling

In other news, Director Lindsay Mackay sold 3,520 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of C$70.00, for a total transaction of C$246,400.00. Also, Senior Officer Stanley G. Chapman Iii sold 267,435 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of C$66.51, for a total value of C$17,785,898.39. Over the last 90 days, insiders sold 415,911 shares of company stock worth $27,926,605. Company insiders own 0.03% of the company's stock.

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.