TC Energy Corporation (NYSE: TRP) is 21.17% higher on its value in year-to-date trading and has touched a low of $38.80 and a high of $49.95 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The TRP stock was last observed hovering at around $48.71 in the last trading session, with the day’s gains setting it 0.63% off its average median price target of $54.41 for the next 12 months. It is also 19.46% off the consensus price target high of $61.26 offered by 22 analysts, but current levels are -2.79% lower than the price target low of $48.00 for the same period.
Currently trading at $49.34, the stock is 4.47% and 7.05% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.55 million and changing 1.29% at the moment leaves the stock 10.66% off its SMA200. TRP registered 6.18% gain for a year compared to 6-month gain of 18.98%. The firm has a 50-day simple moving average (SMA 50) of $45.41 and a 200-day simple moving average (SMA200) of $43.53.
The stock witnessed a 3.35% loss in the last 1 month and extending the period to 3 months gives it a 15.55%, and is 3.09% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.36% over the week and 1.44% over the month.
TC Energy Corporation (TRP) has around 7283 employees, a market worth around $48.05B and $10.40B in sales. Current P/E ratio is 13.01 and Fwd P/E is 14.15. Profit margin for the company is 34.30%. Distance from 52-week low is 27.16% and -1.22% from its 52-week high. The company has generated returns on investments over the last 12 months (7.30%).
TC Energy Corporation (TRP) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for TC Energy Corporation (TRP) is a “Overweight”. 22 analysts offering their recommendations for the stock have an average rating of 1.70, where 6 rate it as a Hold and 2 think it is a “Overweight”. 14 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
TC Energy Corporation is expected to release its quarterly report on 08/05/2021 and quarterly earnings per share for the current quarter are estimated at $0.67 with sales reaching $2.38B over the same period.The EPS is expected to grow by 11.00% this year, but quarterly earnings will post -12.20% year-over-year. Quarterly sales are estimated to shrink -10.90% in year-over-year returns.
TC Energy Corporation (TRP) Top Institutional Holders
789 institutions hold shares in TC Energy Corporation (TRP), with 4.93M shares held by insiders accounting for 0.52% while institutional investors hold 67.98% of the company’s shares. The shares outstanding are 940.00M, and float is at 933.90M with Short Float at 0.48%. Institutions hold 67.62% of the Float.
The top institutional shareholder in the company is Royal Bank of Canada with over 85.07 million shares valued at $3.46 billion. The investor’s holdings represent 8.70% of the TRP Shares outstanding. As of Dec 30, 2020, the second largest holder is Capital Research Global Investors with 34.99 million shares valued at $1.42 billion to account for 3.58% of the shares outstanding. The other top investors are Capital International Investors which holds 31.75 million shares representing 3.25% and valued at over $1.29 billion, while Bank of Montreal/Can/ holds 2.94% of the shares totaling 28.73 million with a market value of $1.17 billion.