TC Energy (TSE:TRP) Shares Pass Below 200 Day Moving Average – Here’s What Happened

Shares of TC Energy Co. (TSE:TRP) (NYSE:TRP) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$64.81 and traded as low as C$64.47. TC Energy shares last traded at C$65.14, with a volume of 5,957,289 shares changing hands.

Analyst Ratings Changes

Several brokerages recently weighed in on TRP. JPMorgan Chase & Co. lifted their price target on TC Energy from C$70.00 to C$79.00 in a research report on Monday, November 18th. Scotiabank boosted their price objective on TC Energy from C$74.00 to C$75.00 in a research note on Wednesday, November 20th. Wells Fargo & Company upped their price target on TC Energy from C$74.00 to C$76.00 in a research note on Wednesday, November 20th. ATB Capital boosted their price objective on TC Energy from C$64.00 to C$65.00 in a report on Friday, November 8th. Finally, CIBC boosted their price objective on TC Energy from C$68.00 to C$70.00 and gave the company a “neutral” rating in a report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$73.25.

TC Energy Stock Down 0.8 %

The business has a 50-day simple moving average of C$66.84 and a two-hundred day simple moving average of C$64.91. The company has a debt-to-equity ratio of 237.62, a quick ratio of 0.40 and a current ratio of 1.31. The company has a market capitalization of C$67.30 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 1.69 and a beta of 0.82.

Insiders Place Their Bets

In related news, Director Alexander (Alex) Oehler purchased 6,540 shares of the company’s stock in a transaction on Monday, December 30th. The stock was bought at an average price of C$66.05 per share, with a total value of C$431,947.64. Also, Senior Officer Stanley G. Chapman Iii sold 267,435 shares of the firm’s 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. In the last ninety days, insiders sold 276,701 shares of company stock valued at $18,392,655. 0.03% of the stock is owned by company insiders.

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.