TC Energy (NYSE:TRP) Share Price Breaks Above Two Hundred Day Moving Average – Time to Sell?

TC Energy Corporation (NYSE:TRP) (TSE:TRP) shares passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $63.58 and traded as high as $64.45. TC Energy shares last traded at $64.3360, with a volume of 1,644,705 shares traded.

Analyst Ratings Changes

Several equities analysts recently weighed in on TRP shares. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research report on Tuesday, July 21st. Royal Bank Of Canada reissued a “moderate buy” rating and set a $106.00 price objective on shares of TC Energy in a report on Friday, September 11th. Barclays reissued an “overweight” rating on shares of TC Energy in a research note on Thursday, July 16th. Weiss Ratings reissued a “buy (b)” rating on shares of TC Energy in a research note on Thursday. Finally, TD upgraded TC Energy to a “buy” rating in a report on Tuesday, September 15th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, TC Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.75.

TC Energy Stock Performance

The company’s 50-day simple moving average is $61.27 and its 200 day simple moving average is $63.63. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.64. The stock has a market cap of $64.54 billion, a P/E ratio of 26.78 and a beta of 0.70.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.07. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.76 billion. TC Energy had a return on equity of 11.10% and a net margin of 22.91%. During the same period in the prior year, the company posted $0.82 earnings per share. As a group, sell-side analysts expect that TC Energy Corporation will post 2.79 EPS for the current fiscal year.

Hedge Funds Weigh In On TC Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sterling Capital Management LLC purchased a new stake in shares of TC Energy in the 1st quarter worth approximately $26,000. Trust Co. of Vermont purchased a new position in TC Energy during the second quarter valued at $33,000. Halbert Hargrove Global Advisors LLC purchased a new position in TC Energy during the third quarter valued at $35,000. Provenance Wealth Advisors LLC bought a new stake in TC Energy in the third quarter worth $48,000. Finally, Ascentis Independent Advisors bought a new stake in TC Energy in the first quarter worth $49,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Company Profile

TC Energy Corporation (NYSE: TRP) is a North American energy infrastructure company that develops and operates natural gas pipelines, storage facilities, power-generation assets and related energy infrastructure. Its natural gas pipeline network connects major supply basins with utilities, power producers, industrial customers and local distribution companies.

The company’s operations are primarily located in Canada and the United States, with additional natural gas pipeline interests in Mexico.