Investors in cash trouble should check out TC Energy Corporation (TRP)

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.

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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.

Institutional Ownership:

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.

Analysts Ratings:

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.

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