1832 Asset Management LP has recently announced that it has increased stake in TC Energy Corporation (NYSE:TRP) by 17.34%. After grabbing 51.14 million shares, the institutional investor is now in possession of 7.56 million shares of the Energy Company. The new investment brought the stake of investor firm to 5.11% having worth around $2.12 billion. Moreover, RBC Dominion Securities, Inc. increased its share by 7.76 million to have a control over 38.2 million shares. And Capital Research & Management Co raised its holdings to 5.05 million shares by acquiring 34.46 million shares or 3.45% of the stake.
TC Energy Corporation (TRP) concluded trading on 05/24/23 at a closing price of $39.88, with 1.05 million shares of worth about $41.93 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -15.90% during that period and on Wednesday the price saw a loss of about -0.55%. Currently the company’s common shares owned by public are about 1.02B shares, out of which, 1.01B shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 20 analysts are covering the TRP stock and their offered price forecasts bring an average price target of $44.65. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $50.14 and could fall to a lowest price of $36.87. The stock’s current price level is 20.27% above of average price target set by the analysts, while a rise to estimated low would result in loss of -8.16% for the stock. However, touching the estimated high of $50.14 would mean a gain of 20.46% for the stock.
RBC Global Resources Fund, American Mutual Fund, and Capital Income Builder are the top 3 mutual funds which are holding stakes in TC Energy Corporation RBC Global Resources Fund is currently holding 47.0 million shares of worth totaling $1.95 billion. The company recently came buying 46.99 million shares which brought its stake up to 4.70% of the company’s outstanding shares. American Mutual Fund bought 27074.0 shares, after which its hold over company’s outstanding shares expand to 2.19%, leaving 21.9 million shares with the mutual fund that have a worth of about $909.63 million. Capital Income Builder, after buying 17.56 million shares, have now control over 1.76% of the stake in the company. It holds 87100.0 shares of worth $729.48 million.
TC Energy Corporation (NYSE: TRP) started trading at $39.97, below -$0.13 from concluding price of the previous day. However, the stock later moved at a day high price of 39.97, or with a loss of -0.55%. Stock saw a price change of -1.41% in past 5 days and over the past one month there was a price change of -1.99%. Year-to-date (YTD), TRP shares are showing a performance of 0.05% which decreased to -30.98% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $36.79 but also hit the highest price of $59.38 during that period. The average intraday trading volume for TC Energy Corporation shares is 1.80 million. The stock is currently trading -2.64% below its 20-day simple moving average (SMA20), while that difference is down -1.01% for SMA50 and it goes to -7.30% lower than SMA200.
1832 Asset Management LP acquired 51.14 million shares of TC Energy Corporation having value of about $2.12 billion. Data submitted at the U.S SEC by 1832 Asset Management LP revealed that the firm now holds 7.56 million shares in the company valued at close to $301338265.0, or have control over 17.34% stake in the company. TC Energy Corporation (NYSE: TRP) currently have 1.02B outstanding shares and institutions hold larger chunk of about 60.20% of that. Holding of mutual funds in the company is about 30.47% while other institutional holders and individual stake holders have control over 49.96% and — of the stake respectively.
The stock has a current market capitalization of $40.40B and its 3Y-monthly beta is at 0.88. PE ratio of stock for trailing 12 months is 33.51, while it has posted earnings per share of $1.19 in the same period. It has Quick Ratio of 0.70 while making debt-to-equity ratio of 1.96. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for TRP, volatility over the week remained 1.30% while standing at 1.85% over the month.
Analysts are in expectations that TC Energy Corporation (TRP) stock would likely to be making an EPS of $0.72 in the current quarter, while forecast for next quarter EPS is $0.76 and it is $3.11 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.69 which is $0.76 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.74 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -65.50% while it is estimated to increase by 0.31% in next year. EPS is likely to grow at an annualized rate of -1.01% for next 5-years, compared to annual growth of -23.80% made by the stock over the past 5-years.
Analysts at 20 brokerage firms have issued recommendations for the TC Energy Corporation (TRP)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.00. Out of those 20 Wall Street analysts, 8 recommended a “Buy” rating, while 9 were in favor recommending the stock as a “Hold” and 3 analyst recommended the stock as “Sell”.
