TC Energy Corporation [TRP] is 23.89% higher this YTD. Is it still time to buy?

TC Energy Corporation [NYSE: TRP] loss -1.54% or -0.79 points to close at $50.45 with a heavy trading volume of 5256929 shares. The company report on June 17, 2021 that Pembina and TC Energy Partner to Create World-Scale Carbon Transportation and Sequestration Solution: The Alberta Carbon Grid.

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All financial figures are approximate and in Canadian dollars unless otherwise noted.

Pembina Pipeline Corporation (“Pembina” or “PPL”) (TSX: PPL; NYSE: PBA) and TC Energy Corporation (“TC Energy”) (TSX, NYSE: TRP) are pleased to share their plan to jointly develop a world-scale carbon transportation and sequestration system which, when fully constructed, will be capable of transporting more than 20 million tonnes of CO2 annually. By leveraging existing pipelines and a newly developed sequestration hub, the Alberta Carbon Grid (“ACG” or the “Project”) represents the infrastructure platform needed for Alberta-based industries to effectively manage their emissions and contribute positively to Alberta’s lower-carbon economy and create sustainable long-term value for Pembina and TC Energy stakeholders.

It opened the trading session at $51.17, the shares rose to $51.17 and dropped to $50.365, the range by which the price of stock traded the whole day. The daily chart for TRP points out that the company has recorded 22.04% gains over the past six months. However, it is still -30.03% lower than its most recent low trading price.

If we look at the average trading volume of 1.70M shares, TRP reached to a volume of 5256929 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about TC Energy Corporation [TRP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TRP shares is $54.51 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TRP stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Evercore ISI have made an estimate for TC Energy Corporation shares, keeping their opinion on the stock as In-line, with their previous recommendation back on March 19, 2021. The new note on the price target was released on January 21, 2021, representing the official price target for TC Energy Corporation stock.

The Average True Range (ATR) for TC Energy Corporation is set at 0.73, with the Price to Sales ratio for TRP stock in the period of the last 12 months amounting to 4.69. The Price to Book ratio for the last quarter was 2.15, with the Price to Cash per share for the same quarter was set at 2.08. Price to Free Cash Flow for TRP in the course of the last twelve months was 26.27 with Quick ratio for the last quarter at 0.70.

Trading performance analysis for TRP stock

TC Energy Corporation [TRP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.44. With this latest performance, TRP shares dropped by -1.23% in over the last four-week period, additionally plugging by 22.04% over the last 6 months – not to mention a rise of 20.75% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TRP stock in for the last two-week period is set at 40.06, with the RSI for the last a single of trading hit 30.97, and the three-weeks RSI is set at 46.23 for TC Energy Corporation [TRP]. The present Moving Average for the last 50 days of trading for this stock 50.69, while it was recorded at 51.06 for the last single week of trading, and 45.55 for the last 200 days.

TC Energy Corporation [TRP]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and TC Energy Corporation [TRP] shares currently have an operating margin of +43.93 and a Gross Margin at +49.60. TC Energy Corporation’s Net Margin is presently recorded at +35.97.

Return on Total Capital for TRP is now 6.78, given the latest momentum, and Return on Invested Capital for the company is 6.18. Return on Equity for this stock inclined to 14.85, with Return on Assets sitting at 4.63. When it comes to the capital structure of this company, TC Energy Corporation [TRP] has a Total Debt to Total Equity ratio set at 159.38. Additionally, TRP Total Debt to Total Capital is recorded at 61.45, with Total Debt to Total Assets ending up at 49.89. Long-Term Debt to Equity for the company is recorded at 159.89, with the Long-Term Debt to Total Capital now at 53.83.

Reflecting on the efficiency of the workforce at the company, TC Energy Corporation [TRP] managed to generate an average of $633,805 per employee. Receivables Turnover for the company is 5.27 with a Total Asset Turnover recorded at a value of 0.13.TC Energy Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.80.

TC Energy Corporation [TRP]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, TC Energy Corporation posted 0.64/share EPS, while the average EPS was predicted by analysts to be reported at 0.58/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 10.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TRP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for TC Energy Corporation go to 3.02%.

An analysis of insider ownership at TC Energy Corporation [TRP]

There are presently around $34,776 million, or 60.20% of TRP stock, in the hands of institutional investors. The top three institutional holders of TRP stocks are: ROYAL BANK OF CANADA with ownership of 87,014,549, which is approximately 2.275% of the company’s market cap and around 0.53% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 36,403,479 shares of the stock with an approximate value of $1.84 billion in TRP stocks shares; and BANK OF MONTREAL /CAN/, currently with $1.54 billion in TRP stock with ownership of nearly 5.33% of the company’s market capitalization.

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Positions in TC Energy Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 264 institutional holders increased their position in TC Energy Corporation [NYSE:TRP] by around 100,935,493 shares. Additionally, 248 investors decreased positions by around 55,365,293 shares, while 75 investors held positions by with 533,021,667 shares. The mentioned changes placed institutional holdings at 689,322,453 shares, according to the latest SEC report filing. TRP stock had 64 new institutional investments in for a total of 2,736,280 shares, while 68 institutional investors sold positions of 7,319,784 shares during the same period.

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