TC Energy Corporation (NYSE: TRP) stock fell -0.60% on Friday to $46.33 against a previous-day closing price of $46.61. With 1.36 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.76 million shares. During the session, the Oil & Gas Midstream company that operates in wider Energy sector, reached to the highest price of $47.02 whereas the lowest price it dropped to was $46.31. The 52-week range on TRP shows that it touched its highest point at $59.38 and its lowest point at $44.77 during that stretch. It currently has a 1-year price target of $56.83. With its current market cap of 46.54 billion, TRP has annualized dividend of $2.81 while the current yield stands at 6.07%. Beta for the stock currently stands at 0.75.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TRP was down-trending over the past week, with a drop of -3.01%, but this was down by -8.82% over a month. Three-month performance dropped to -9.42% while six-month performance fell -17.66%. The stock lost -4.26% in the past year, while it has lost -0.45% so far this year. A look at the trailing 12-month EPS for TRP yields 2.42 with Next year EPS estimates of 4.31. For the next quarter, that number is 0.97. This implies an EPS growth rate of -60.70% for this year and 3.16% for next year. EPS is expected to grow by 2.11% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 62.80%.
Float and Shares Shorts:
At present, 983.00 million TRP shares are outstanding with a float of 981.97 million shares on hand for trading. On Jul 14, 2022, short shares totaled 38.32 million, which was 3.90% higher than short shares on Jun 14, 2022. In addition to Mr. Francois Lionel Poirier as the firm’s CEO, Pres & Director, Mr. Joel E. Hunter serves as its Exec. VP & CFO.
Through their ownership of 77.85% of TRP’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 50.19% of TRP, in contrast to 27.05% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in TRP with 6.85% of the stake, Capital Research & Management Co holds 67,342,891 shares worth 67,342,891. A second-largest stockholder of TRP, RBC Global Asset Management, Inc., holds 58,908,814 shares, controlling over 5.99% of the firm’s shares. Capital Research & Management Co is the third largest shareholder in TRP, holding 40,951,932 shares or 4.16% stake. With a 2.55% stake in TRP, the American Mutual Fund is the largest stakeholder. A total of 25,058,402 shares are owned by the mutual fund manager. The Capital Income Builder, which owns about 2.06% of TRP stock, is the second-largest Mutual Fund holder. It holds 20,260,961 shares valued at 976.58 million. American Funds Income Fund of Ame holds 2.05% of the stake in TRP, owning 20,122,000 shares worth 969.88 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TRP since 22 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 3 suggest SELL ratings. Of the remaining analysts, 12 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With TRP analysts setting a high price target of $60.49 and a low target of $40.24, the average target price over the next 12 months is $53.17. Based on these targets, TRP could surge 30.56% to reach the target high and fall by -13.14% to reach the target low. Reaching the average price target will result in a growth of 14.76% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. TRP will report FY 2022 earnings on 02/16/2023. Analysts have provided yearly estimates in a range of $3.37 being high and $2.98 being low. For TRP, this leads to a yearly average estimate of $3.20. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. TC Energy Corporation surprised analysts by $0.02 when it reported $0.78 EPS against a consensus estimate of $0.76. The surprise factor in the prior quarter was $0.00. Based on analyst estimates, the high estimate for the next quarter is $0.81 and the low estimate is $0.64. The average estimate for the next quarter is thus $0.75.