TC Energy Corporation [TRP] gain 7.13% so far this year. What now?

TC Energy Corporation [NYSE: TRP] price surged by 0.56 percent to reach at $0.28. The company report on August 10, 2022 that TC Energy closes $1.8 billion bought deal offering of Common Shares.


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News Release – TC Energy Corporation (TSX: TRP) (NYSE: TRP) (TC Energy or the Company) today announced that it has completed its previously announced public offering (the Offering) of common shares of the Company (the Common Shares).

The Offering was announced on Aug. 4, 2022 when TC Energy entered into an agreement with a syndicate of underwriters led by RBC Capital Markets and Scotiabank under which they agreed to purchase from TC Energy and sell to the public 28,400,000 Common Shares. The purchase price of $63.50 per Common Share (the Offering Price) resulted in total gross proceeds of approximately $1.8 billion. TC Energy has also granted the underwriters an over-allotment option to purchase up to an additional 2,840,000 Common Shares at the Offering Price, exercisable for a period of 30 days after closing of the Offering.

A sum of 2475012 shares traded at recent session while its average daily volume was at 1.82M shares. TC Energy Corporation shares reached a high of $50.19 and dropped to a low of $49.665 until finishing in the latest session at $49.86.

The one-year TRP stock forecast points to a potential upside of 15.22. The average equity rating for TRP stock is currently 3.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $58.81 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 1.13, with the Price to Sales ratio for TRP stock in the period of the last 12 months amounting to 4.44. The Price to Book ratio for the last quarter was 2.07, with the Price to Cash per share for the same quarter was set at 1.64.

TRP Stock Performance Analysis:

TC Energy Corporation [TRP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.64. With this latest performance, TRP shares dropped by -5.50% in over the last four-week period, additionally sinking by -5.01% over the last 6 months – not to mention a rise of 6.27% 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 42.18, with the RSI for the last a single of trading hit 41.73, and the three-weeks RSI is set at 42.75 for TC Energy Corporation [TRP]. The present Moving Average for the last 50 days of trading for this stock 52.15, while it was recorded at 50.29 for the last single week of trading, and 52.44 for the last 200 days.

Insight into TC Energy Corporation Fundamentals:

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 0.60 and a Current Ratio set at 0.60.

TRP Stock EPS

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 2.99%.

TC Energy Corporation [TRP] Insider Position Details

There are presently around $36,131 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 92,227,017, which is approximately 5.795% of the company’s market cap and around 0.11% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 67,342,891 shares of the stock with an approximate value of $3.36 billion in TRP stocks shares; and BANK OF MONTREAL /CAN/, currently with $2.52 billion in TRP stock with ownership of nearly 50.787% 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 254 institutional holders increased their position in TC Energy Corporation [NYSE:TRP] by around 51,596,313 shares. Additionally, 219 investors decreased positions by around 53,683,136 shares, while 116 investors held positions by with 619,376,802 shares. The mentioned changes placed institutional holdings at 724,656,251 shares, according to the latest SEC report filing. TRP stock had 48 new institutional investments in for a total of 3,478,207 shares, while 54 institutional investors sold positions of 11,833,381 shares during the same period.

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