TC Energy Corporation (NYSE:TRP) finished Friday with a subtraction of -$0.19 to close at $34.41, a downside of -0.55 percent. An average of 4,893,700 shares of common stock have been traded in the last five days. There was a fall of -$1.98 in the past week, and it reached a new high 15 times over the past 12 months. The last 20 days have seen an average of 3,678,340 shares traded, while the 50-day average volume stands at 3,345,124.
TRP stock has decreased by -5.18% in the last month. The company shares reached their 1-month lowest point of $34.36 on 09/29/23. With the stock rallying to its 52-week high on 01/24/23, shares of the company touched a low of $33.02 and a high of $49.51 in 52 weeks. It has reached a new high 11 times so far this year and lost -13.67% or -$5.45 in price. In spite of this, the price is down -30.50% from the 52-week high.
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Valuation Metrics
TC Energy Corporation (TRP) has a trailing price-to-earnings (P/E) ratio of 47.34. The stock’s beta is 0.86. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.12, the price-to-book (PB) ratio at 1.50, and the price-to-cash flow ratio at 55.37.
The company has a payout ratio of 558.87%. The company’s most recent quarterly dividend payment was $0.7020 a share, representing a up of 2.03% from $0.6880 last year. Its latest increase dividend $0.0140 reported on Thursday July 27 2023.
Financial Health
The quick ratio of TC Energy Corporation for the three months ended June 29 was 0.52, and the current ratio was 0.61, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.67 and a total debt to equity ratio of 1.82 for the quarter ending June 29. Its gross profit as reported stood at $5.14 billion compared to revenue of $11.52 billion.
Earnings Surprise
For the three-month period that ended June 29, TC Energy Corporation had $6.6 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $3.05 billion in the quarter, while revenues were grew 1.6%. The analyst consensus anticipated TC Energy Corporation’s latest quarter earnings to come in at $0.72 per share, but it turned out to be $0.71, a -1.40% surprise. For the quarter, EBITDA amounted to $1.89 billion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at TC Energy Corporation (TRP) price momentum. RSI 9-day as of the close on 29 September was 27.87%, suggesting the stock is oversold, with historical volatility in this time frame at 25.74%.
As of today, TRP’s price is $35.44 -5.44% or -$1.98 from its 5-day moving average. TRP is currently trading -4.73% lower than its 20-day SMA and -17.93% lower than its 100-day SMA. However, the stock’s current price level is -12.69% below the SMA50 and -19.00% below the SMA200.
The stochastic %K and %D were 9.67% and 18.67%, respectively, and the average true range (ATR) was 0.75. With the 14-day stochastic at 1.47% and the average true range at 0.72, the RSI (14) stands at 33.69%. The stock has reached -0.99 on the 9-day MACD Oscillator while the 14-day reading was at -1.34.
Analyst Ratings
Wells Fargo upgraded TC Energy Corporation (NYSE: TRP) to a an Equal weight rating in its most recent analyst report. Previously, the stock was rated as an Underweight.
