As of Wednesday close, TC Energy Corporation’s (NYSE:TRP) stock was down -$0.03, moving down -0.08 percent to $35.72. The average number of shares traded per day over the past five days has been 1,684,000 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.70 fall in that time frame. In the last twenty days, the average volume was 3,949,750, while in the previous 50 days, it was 2,942,258.
Since last month, TRP stock retreated -6.93%. Shares of the company fell to $33.02 on 07/28/23, the lowest level in the past month. A 52-week high of $51.41 was reached on 01/24/23 after having rallying from a 52-week low of $33.02. Since the beginning of this year, TRP’s stock price has dropped by -10.39% or -$4.14, and marked a new high 11 times. However, the stock has declined by -30.52% since its 52-week high.
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Valuation Metrics
Right now, TC Energy Corporation (TRP) has a P/E ratio of about 50.74. The stock’s beta is 0.86. Besides these, the trailing price-to-sales (P/S) ratio of 3.13, the price-to-book (PB) ratio of 1.57.
The latest dividend of $0.7020 per share was paid out, which is 2.03% more than last year’s $0.6880.
Financial Health
In the three months ended June 29, TC Energy Corporation’s quick ratio stood at 0.50, while its current ratio was 0.60, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 1.80, and the total debt-to-equity ratio was 1.97. On the profitability front, the trailing twelve-month gross margin is 67.80% percent. In the year ended June 29, EBITDA margin amounted to 56.74%, whereas operating margins totaled 17.60%. Based on annual data, TRP earned $5.14 billion in gross profit and brought in $11.52 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 2.20%. Return on equity (ROE) for the past 12 months was 3.00%.
In TC Energy Corporation’s quarter-end financial report for June 29, it reported total debt of $6.6 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. TRP’s revenue fell -32.46% during the quarter, while net income inched up to $10.15 billion. While analysts expected TC Energy Corporation to report $0.72 quarterly earnings, the actual figure was $0.71 per share, beating the consensus estimate by -1.40%. During the quarter, the company generated $1.89 billion in EBITDA. The liabilities of TC Energy Corporation were 61.64 billion at the end of its most recent quarter ended June 29, and its total debt was $61.78 billion.
Technical Picture
This quick technical analysis looks at TC Energy Corporation’s (TRP) price momentum. With a historical volatility rate of 15.02%, the RSI 9-day stood at 38.50% on 16 August.
With respect to its five-day moving average, the current TC Energy Corporation price is down by -1.92% percent or -$0.70. At present, TRP shares trade -7.44% below its 20-day simple moving average and -4.54% percent below its 100-day simple moving average. However, the stock is currently trading approximately -12.37% below its SMA50 and -19.55% below its SMA200.
Stochastic coefficient K was 72.59% and Stochastic coefficient D was 71.17%, while ATR was 0.79. Given the Stochastic reading of 68.97% for the 14-day period, the RSI (14) reading has been calculated as 39.02%. As of today, the MACD Oscillator reading stands at -0.17, while the 14-day reading stands at 0.03.
Analyst Ratings
National Bank Financial upgraded its rating on TC Energy Corporation (NYSE: TRP) to an Outperform in a note to investors on July 28, 2023. The analysts firm previously had a Sector perform rating on the stock.TC Energy Corporation (TRP) has been rated Hold by analysts. According to 3 brokerage firms, TRP is a sell, and 11 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate TC Energy Corporation stock as buy, with 5 recommending it as overweight.
With a median target price of $40.80, the current consensus forecast for the stock is $34.00 – $45.40. Based on these forecasts, analysts predict TC Energy Corporation (TRP) will achieve an average price target of $40.32.
