TC Energy Corporation [TRP] fell -10.81% so far this year. What now?

TC Energy Corporation [NYSE: TRP] loss -2.17% or -0.79 points to close at $35.55 with a heavy trading volume of 8184579 shares. The company report on July 27, 2023 at 4:11 PM that TC Energy reports solid second quarter 2023 results, while significantly advancing Coastal GasLink and Southeast Gateway projects to planned cost and schedule.

Unlocking incremental shareholder value through spinning off Liquids Pipelines, integrating our Natural Gas Pipelinesbusiness units and utilizing strategic partnerships to enable energy transition and drive energy security.

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TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) released its second quarter results today. François Poirier, TC Energy’s President and Chief Executive Officer commented, “Today’s announcement to separate our Natural Gas Pipelines and Power and Energy Solutions businesses from our Liquids Pipelines business will maximize the value of our assets. The separated industry-leading companies will have greater strategic focus to execute major projects, drive efficiencies and operational excellence, and enhanced flexibility to pursue disciplined growth.” Poirier continued, “In addition, we have made significant progress on our 2023 strategic priorities. First, we continue to safely execute our secured capital program, including Coastal GasLink and Southeast Gateway which remain on planned cost and schedule. Second, we have significantly accelerated our deleveraging goal ahead of our year-end target with the sale of a 40 per cent equity interest in the Columbia Gulf and Columbia Gas systems for total cash proceeds of $5.2 billion. And third, we are safely and reliably operating our assets that provide essential services across North America, which is a testament to the dedication and hard work of our people.”.

It opened the trading session at $35.77, the shares rose to $36.00 and dropped to $34.69, the range by which the price of stock traded the whole day. The daily chart for TRP points out that the company has recorded -12.57% loss over the past six months. However, it is still -7.66% lower than its most recent low trading price.

If we look at the average trading volume of 2.70M shares, TRP reached to a volume of 8184579 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 $44.47 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.

National Bank Financial have made an estimate for TC Energy Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 28, 2023.

The Average True Range (ATR) for TC Energy Corporation is set at 0.71, with the Price to Sales ratio for TRP stock in the period of the last 12 months amounting to 3.14. The Price to Book ratio for the last quarter was 1.57, with the Price to Cash per share for the same quarter was set at 1.23.

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 -1.33. With this latest performance, TRP shares dropped by -0.67% in over the last four-week period, additionally sinking by -12.57% over the last 6 months – not to mention a drop of -25.98% 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 42.16, with the RSI for the last a single of trading hit 41.58, and the three-weeks RSI is set at 42.03 for TC Energy Corporation [TRP]. The present Moving Average for the last 50 days of trading for this stock 37.26, while it was recorded at 36.14 for the last single week of trading, and 40.27 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 +38.61 and a Gross Margin at +44.56. TC Energy Corporation’s Net Margin is presently recorded at +5.25.

Return on Total Capital for TRP is now 6.13, given the latest momentum, and Return on Invested Capital for the company is 0.91. Return on Equity for this stock inclined to 2.22, with Return on Assets sitting at 0.68. When it comes to the capital structure of this company, TC Energy Corporation [TRP] has a Total Debt to Total Equity ratio set at 172.79. Additionally, TRP Total Debt to Total Capital is recorded at 63.34, with Total Debt to Total Assets ending up at 51.36. Long-Term Debt to Equity for the company is recorded at 160.42, with the Long-Term Debt to Total Capital now at 54.48.

Reflecting on the efficiency of the workforce at the company, TC Energy Corporation [TRP] managed to generate an average of $100,040 per employee. Receivables Turnover for the company is 3.19 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 0.50 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 -2.51%.

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

The top three institutional holders of TRP stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in TRP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in TRP stock with ownership which is approximately 5.7381%.

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