TC Energy Corporation [TRP] Stock trading around $40.00 per share: What’s Next?

TC Energy Corporation [NYSE: TRP] closed the trading session at $40.00 on 12/28/22. The day’s price range saw the stock hit a low of $39.885, while the highest price level was $41.33. The company report on November 29, 2022 that TC Energy provides growth outlook for 2023 and defines funding plan at Investor Day 2022.

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The stocks have a year to date performance of -14.05 percent and weekly performance of 0.73 percent. The stock has been moved at -23.36 percent over the last six months. The stock has performed -17.36 percent around the most recent 30 days and changed -7.45 percent over the most recent 3-months.

If compared to the average trading volume of 2.13M shares, TRP reached to a volume of 7645970 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $52.65 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 3.10. 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.

Wells Fargo have made an estimate for TC Energy Corporation shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on December 16, 2022. The new note on the price target was released on May 12, 2022, representing the official price target for TC Energy Corporation stock. On April 11, 2022, analysts increased their price target for TRP shares from 53 to 57.

The Average True Range (ATR) for TC Energy Corporation is set at 1.04, with the Price to Sales ratio for TRP stock in the period of the last 12 months amounting to 3.73. The Price to Book ratio for the last quarter was 1.64, with the Price to Cash per share for the same quarter was set at 2.11.

TRP stock trade performance evaluation

TC Energy Corporation [TRP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.73. With this latest performance, TRP shares dropped by -17.36% in over the last four-week period, additionally sinking by -23.36% over the last 6 months – not to mention a drop of -15.70% 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 36.16, with the RSI for the last a single of trading hit 35.37, and the three-weeks RSI is set at 38.13 for TC Energy Corporation [TRP]. The present Moving Average for the last 50 days of trading for this stock 43.98, while it was recorded at 40.36 for the last single week of trading, and 50.09 for the last 200 days.

TC Energy Corporation [TRP]: An insightful look at the core 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 0.50 and a Current Ratio set at 0.50.

Earnings per share (EPS) analysis for TC Energy Corporation [TRP] stock

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 2.18%.

TC Energy Corporation [TRP]: Insider Ownership positions

There are presently around $29,815 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 96,145,047, which is approximately 4.248% of the company’s market cap and around 0.11% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 70,347,225 shares of the stock with an approximate value of $2.81 billion in TRP stocks shares; and BANK OF MONTREAL /CAN/, currently with $1.57 billion in TRP stock with ownership of nearly -21.999% 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 255 institutional holders increased their position in TC Energy Corporation [NYSE:TRP] by around 67,466,649 shares. Additionally, 226 investors decreased positions by around 53,256,627 shares, while 101 investors held positions by with 624,657,929 shares. The mentioned changes placed institutional holdings at 745,381,205 shares, according to the latest SEC report filing. TRP stock had 54 new institutional investments in for a total of 5,273,518 shares, while 51 institutional investors sold positions of 3,761,689 shares during the same period.

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