TC Energy (TSE:TRP) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of TC Energy Co. (TSE:TRP) (NYSE:TRP) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$70.80 and traded as high as C$75.24. TC Energy shares last traded at C$73.83, with a volume of 5,664,957 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TRP shares. Citigroup set a C$75.00 price objective on shares of TC Energy and gave the stock a “neutral” rating in a research note on Friday, September 5th. Cibc Captl Mkts raised TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Royal Bank Of Canada upped their price target on TC Energy from C$74.00 to C$84.00 in a research report on Friday, November 7th. BMO Capital Markets raised TC Energy from a “hold” rating to an “outperform” rating and increased their price objective for the stock from C$73.00 to C$83.00 in a research note on Friday, November 7th. Finally, TD Securities lowered their target price on TC Energy from C$81.00 to C$80.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, TC Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of C$78.20.

TC Energy Price Performance

The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40. The stock has a market capitalization of C$76.86 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 1.69 and a beta of 0.90. The stock’s 50 day simple moving average is C$73.96 and its 200-day simple moving average is C$70.80.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings results on Thursday, November 6th. The company reported C$0.77 EPS for the quarter. TC Energy had a net margin of 32.39% and a return on equity of 17.25%. The company had revenue of C$3.70 billion for the quarter. On average, analysts expect that TC Energy Co. will post 3.5490515 EPS for the current fiscal year.

About TC Energy

TC Energy Corp operates as an energy infrastructure company, consisting of pipeline and power generation assets in Canada, the United States, and Mexico. Its pipeline network consists of over 92,600 kilometers (57,500 miles) of natural gas pipeline, along with 4,900 kilometers (3,000) miles) from the Keystone Pipeline system.