TC Energy Corporation [TRP] Is Currently -0.69 below its 200 Period Moving Avg: What Does This Mean?


TC Energy Corporation [NYSE: TRP] loss -0.69% or -0.35 points to close at $50.56 with a heavy trading volume of 2279227 shares. The company report on July 7, 2022 that TC Energy to issue second quarter 2022 results on July 28.

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News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) will hold a teleconference and webcast on Thursday, July 28, 2022 to discuss its second quarter financial results, which will be released pre-market.

François Poirier, TC Energy President and Chief Executive Officer; Joel Hunter, Executive Vice-President and Chief Financial Officer; and other members of the executive leadership team will discuss the financial results and Company developments at 9 a.m. MDT / 11 a.m. EDT.

It opened the trading session at $49.60, the shares rose to $50.70 and dropped to $48.785, the range by which the price of stock traded the whole day. The daily chart for TRP points out that the company has recorded 1.14% gains over the past six months. However, it is still -12.93% lower than its most recent low trading price.

If we look at the average trading volume of 1.72M shares, TRP reached to a volume of 2279227 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 $58.02 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 3.00. 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.

CIBC have made an estimate for TC Energy Corporation shares, keeping their opinion on the stock as Sector Outperform, with their previous recommendation back on May 12, 2022. The new note on the price target was released on April 26, 2022, representing the official price target for TC Energy Corporation stock. Previously, the target price had yet another raise from $53 to $57, while Wolfe Research kept a Underperform rating on TRP stock.

The Average True Range (ATR) for TC Energy Corporation is set at 1.52, with the Price to Sales ratio for TRP stock in the period of the last 12 months amounting to 4.72. The Price to Book ratio for the last quarter was 2.19, with the Price to Cash per share for the same quarter was set at 1.19.

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 -1.90. With this latest performance, TRP shares dropped by -8.01% in over the last four-week period, additionally plugging by 1.14% over the last 6 months – not to mention a rise of 2.62% 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 38.85, with the RSI for the last a single of trading hit 38.28, and the three-weeks RSI is set at 40.03 for TC Energy Corporation [TRP]. The present Moving Average for the last 50 days of trading for this stock 54.58, while it was recorded at 51.00 for the last single week of trading, and 52.47 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 +43.05 and a Gross Margin at +48.94. TC Energy Corporation’s Net Margin is presently recorded at +14.88.

Return on Equity for this stock inclined to 6.05, with Return on Assets sitting at 1.91.

TC Energy Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.60.

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

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 2.53%.

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

There are presently around $36,647 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 87,175,251, which is approximately -5.427% of the company’s market cap and around 0.10% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 56,475,561 shares of the stock with an approximate value of $2.88 billion in TRP stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $2.08 billion in TRP stock with ownership of nearly 3.087% of the company’s market capitalization.

Positions in TC Energy Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 263 institutional holders increased their position in TC Energy Corporation [NYSE:TRP] by around 75,053,182 shares. Additionally, 216 investors decreased positions by around 44,447,395 shares, while 100 investors held positions by with 600,328,635 shares. The mentioned changes placed institutional holdings at 719,829,212 shares, according to the latest SEC report filing. TRP stock had 58 new institutional investments in for a total of 2,749,324 shares, while 39 institutional investors sold positions of 1,528,857 shares during the same period.