TC Energy (TSE:TRP) Shares Pass Above 200 Day Moving Average – What’s Next?

Shares of TC Energy Co. (TSE:TRP) (NYSE:TRP) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-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.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TRP. ATB Capital lifted their price objective on shares of TC Energy from C$64.00 to C$65.00 in a research note on Friday, November 8th. CIBC boosted their price target on shares of TC Energy from C$67.00 to C$68.00 in a report on Wednesday, November 20th. UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. Jefferies Financial Group lifted their target price on TC Energy from C$64.00 to C$65.00 in a report on Wednesday, November 20th. Finally, Raymond James upgraded TC Energy to a “hold” rating in a report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$69.77.

TC Energy Stock Up 0.3 %

The stock’s fifty day moving average price is C$67.00 and its 200-day moving average price is C$61.25. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84. The company has a market capitalization of C$69.20 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.97 by C$0.06. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The firm had revenue of C$4.08 billion for the quarter, compared to analyst estimates of C$3.90 billion. On average, sell-side analysts predict that TC Energy Co. will post 3.5490515 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business 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 represents a $4.45 dividend on an annualized basis and a dividend yield of 6.69%. This is a boost from TC Energy’s previous quarterly dividend of $0.96. TC Energy’s dividend payout ratio is currently 116.01%.

Insider Activity at TC Energy

In other news, Director Colin Lindley sold 3,194 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of C$68.70, for a total value of C$219,425.56. Following the completion of the sale, the director now directly owns 697 shares of the company’s stock, valued at C$47,883.41. This trade represents a 82.09 % decrease in their ownership of the stock. Also, Director Lindsay Mackay sold 3,520 shares of the business’s 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 value of C$246,400.00. Over the last three months, insiders sold 415,911 shares of company stock valued at $27,926,605. 0.03% of the stock is owned by corporate 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.