why TC Energy Corporation [TRP] is a Good Choice for Investors After New Price Target of $58.81

TC Energy Corporation [NYSE: TRP] stock went on a downward path that fall over -4.21% on Thursday, amounting to a one-week price decrease of less than -1.29%. The company report on October 4, 2022 that TC Energy to build its first solar energy project in Canada.


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Future rendering of TC Energy solar farm at Saddlebrook, near Aldersyde, Alta.

Future rendering of TC Energy solar farm at Saddlebrook, near Aldersyde, Alta.

Over the last 12 months, TRP stock dropped by -16.22%. The one-year TC Energy Corporation stock forecast points to a potential upside of 30.79. The average equity rating for TRP stock is currently 3.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $41.24 billion, with 983.00 million shares outstanding and 981.96 million shares in the current float. Compared to the average trading volume of 1.86M shares, TRP stock reached a trading volume of 4598325 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 1.50, with the Price to Sales ratio for TRP stock in the period of the last 12 months amounting to 4.04. The Price to Book ratio for the last quarter was 1.81, with the Price to Cash per share for the same quarter was set at 1.47.

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 -1.29. With this latest performance, TRP shares dropped by -15.14% in over the last four-week period, additionally sinking by -30.75% over the last 6 months – not to mention a drop of -16.22% 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 33.58, with the RSI for the last a single of trading hit 33.10, and the three-weeks RSI is set at 34.52 for TC Energy Corporation [TRP]. The present Moving Average for the last 50 days of trading for this stock 48.03, while it was recorded at 41.87 for the last single week of trading, and 52.20 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 2.11%.

TC Energy Corporation [TRP] Insider Position Details

There are presently around $29,524 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 $2.74 billion in TRP stocks shares; and BANK OF MONTREAL /CAN/, currently with $2.05 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 November and at the time of the November reporting period, where 259 institutional holders increased their position in TC Energy Corporation [NYSE:TRP] by around 52,720,079 shares. Additionally, 211 investors decreased positions by around 52,589,991 shares, while 111 investors held positions by with 620,084,417 shares. The mentioned changes placed institutional holdings at 725,394,487 shares, according to the latest SEC report filing. TRP stock had 47 new institutional investments in for a total of 3,478,141 shares, while 54 institutional investors sold positions of 11,815,256 shares during the same period.

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