TC Energy Corporation [NYSE: TRP] loss -0.22% or -0.09 points to close at $40.41 with a heavy trading volume of 7876995 shares. The company report on March 14, 2024 at 5:00 PM that TC Energy enters agreement to sell Prince Rupert Gas Transmission entities to Nisga’a Nation and Western LNG.
Transaction demonstrates TC Energy’s focus on its strategic priorities while facilitating the development of critical energy infrastructure.
The daily chart for TRP points out that the company has recorded 10.86% gains over the past six months.
If we look at the average trading volume of 2.47M shares, TRP reached to a volume of 7876995 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 $41.08 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 2.52. 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.
Jefferies have made an estimate for TC Energy Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on February 27, 2024. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on January 18, 2024, representing the official price target for TC Energy Corporation stock.
The Average True Range (ATR) for TC Energy Corporation is set at 0.47, with the Price to Sales ratio for TRP stock in the period of the last 12 months amounting to 3.77. The Price to Book ratio for the last quarter was 2.04, with the Price to Cash per share for the same quarter was set at 2.78.
Trading performance analysis for TRP stock
TC Energy Corporation [TRP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.35. With this latest performance, TRP shares gained by 2.85% in over the last four-week period, additionally plugging by 10.86% over the last 6 months – not to mention a rise of 6.68% 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 58.24, with the RSI for the last a single of trading hit 57.92, and the three-weeks RSI is set at 57.61 for TC Energy Corporation [TRP]. The present Moving Average for the last 50 days of trading for this stock 39.40, while it was recorded at 40.36 for the last single week of trading, and 37.75 for the last 200 days.
TC Energy Corporation [TRP]: A deeper dive into fundamental analysis
TC Energy Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.88 and a Current Ratio set at 0.96.
TC Energy Corporation [TRP]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, TC Energy Corporation posted 0.91/share EPS, while the average EPS was predicted by analysts to be reported at 0.86/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.80%. 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 -2.00%.
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 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in TRP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in TRP stock with ownership which is approximately 5.8325%.
