TC Energy Corporation (NYSE: TRP) Volatility Spurs A Quest For Clarity


    RBC Global Asset Management, Inc. recently announced the acquisition of new stake in TC Energy Corporation (NYSE:TRP). The institutional investor has increased its shareholding in the Energy company by 4.97% to 60.06 million shares with purchase of 2.85 million shares. This fresh investment now brings its stake to 6.39% valued currently at $2.57 billion. In addition, T. Rowe Price Associates, Inc. (I. raised its holdings by 3.72 million to 40.38 million shares. And BMO Asset Management, Inc. has lifted its position by 30.37% or 9.09 million shares – to 39.04 million shares.

    With over 1.82 million TC Energy Corporation (TRP) shares trading Wednesday and a closing price of $44.51 on the day, the dollar volume was approximately $81.1 million. The shares have shown a positive weekly performance of 6.08% and its price on 07/15/20 gained nearly 1.92%. Currently, there are 939.00M common shares owned by the public and among those 935.42M shares have been available to trade.

    Incidentally, analysts’ outlook for the TC Energy Corporation stock is 1.70 for the next 12 months.

    The top 3 mutual fund holders in TC Energy Corporation are Vanguard Total International Stoc, American Mutual Fund, and DWS Top Dividende. Vanguard Total International Stoc owns 16.23 million shares of the company’s stock, all valued at over $695.62 million. American Mutual Fund bought 3.05 million shares to see its total holdings expand to 11.7 million shares valued at over $501.54 million and representing 1.25% of the shares outstanding. DWS Top Dividende now owns shares totaling to 1.12% of the shares outstanding.

    Shares of TC Energy Corporation (NYSE: TRP) opened at $44.24, up $0.57 from a prior closing price of $43.67. However, the script later closed the day at $44.51, up 1.92%. The company’s stock has a 5-day price change of 6.08% and -3.41% over the past three months. TRP shares are trading -16.51% year to date (YTD), with the 12-month market performance down to -11.58% lower. It has a 12-month low price of $32.37 and touched a high of $57.92 over the same period. Currently, 1.82 million shares have been traded, compared to an average intraday trading volume of 1.73 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.73%, 0.79%, and -8.57% respectively.

    Institutional ownership of TC Energy Corporation (NYSE: TRP) shares accounts for 60.20% of the company’s 939.00M shares outstanding. Mutual fund holders own 29.19%, while other institutional holders and individual stakeholders account for 40.52% and — respectively.

    It has a market capitalization of $41.40B and a beta (3y monthly) value of 0.75. The stock’s trailing 12-month PE ratio is 13.73, while the earnings-per-share (ttm) stands at $3.24. The company has a PEG of 9.33 and a Quick Ratio of 0.50 with the debt-to-equity ratio at 1.95. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.46% over the week and 2.50% over the month.

    Analysts forecast that TC Energy Corporation (TRP) will achieve an EPS of $0.67 for the current quarter, $0.57 for the next quarter and $2.88 for 2019. The lowest estimate earnings-per-share for the quarter is $0.6 while analysts give the company a high EPS estimate of $0.75. Comparatively, EPS for the current quarter was $0.64 a year ago. Earnings per share for the fiscal year are expected to increase by 14.40%, and 0.57% over the next financial year. EPS should shrink at an annualized rate of 1.47% over the next five years, compared to 11.70% over the past 5-year period.

    Looking at the support for the TRP, a number of firms have released research notes about the stock. Scotiabank stated their Sector Outperform rating for the stock in a research note on July 15, 2020, with the firm’s price target at. Raymond James coverage for the TC Energy Corporation (TRP) stock in a research note released on July 09, 2020 offered a Mkt Perform rating with a price target of. Morgan Stanley was of a view on June 01, 2020 that the stock is Overweight, while BMO Capital Markets gave the stock Market Perform rating on May 13, 2020, issuing a price target of. Jefferies on their part issued Hold rating on May 12, 2020.


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