In last trading session, TC Energy Corporation (NYSE:TRP) saw 5.49 million shares changing hands with its beta currently measuring 0.77. Company’s recent per share price level of $36.78 trading at -$0.38 or -1.02% at ring of the bell on the day assigns it a market valuation of $38.16B. That closing price of TRP’s stock is at a discount of -16.26% from its 52-week high price of $42.76 and is indicating a premium of 11.61% from its 52-week low price of $32.51. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 4.01 million shares which gives us an average trading volume of 2.82 million if we extend that period to 3-months.
TC Energy Corporation (NYSE:TRP) trade information
Upright in the red during last session for losing -1.02%, in the last five days TRP remained trading in the red while hitting it’s week-highest on Friday, 04/05/24 when the stock touched $36.78 price level, adding 4.89% to its value on the day. TC Energy Corporation’s shares saw a change of -5.91% in year-to-date performance and have moved -5.06% in past 5-day. TC Energy Corporation (NYSE:TRP) showed a performance of -9.63% in past 30-days. Number of shares sold short was 45.65 million shares which calculate 35.78 days to cover the short interests.
TC Energy Corporation (TRP) estimates and forecasts
Statistics highlight that TC Energy Corporation is scoring comparatively lower than the scores of other players of the relevant industry. The company added 6.49% of value to its shares in past 6 months, showing an annual growth rate of -10.75% while that of industry is 10.50. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to decrease by -8.80% in the current quarter and calculating -5.60% decrease in the next quarter. This year revenue growth is estimated to rise 2.10% from the last financial year’s standing.
3 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $3.12 billion for the same. And 3 analysts are in estimates of company making revenue of $2.82 billion in the next quarter that will end on Jun 2024. Company posted $3.02 billion and $2.71 billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 3.30% while estimating it to be 3.90% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -7.63% during past 5 years. In 2024, company’s earnings growth rate is likely to be around -9.50% while estimates for its earnings growth in next 5 years are of -2.00%.
TRP Dividends
TC Energy Corporation is more likely to be releasing its next quarterly report between April 26 and April 30 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
TC Energy Corporation (NYSE:TRP)’s Major holders
Insiders are in possession of 0.04% of company’s total shares while institution are holding 79.09 percent of that, with stock having share float percentage of 79.12%. Investors also watch the number of corporate investors in a company very closely, which is 79.09% institutions for TC Energy Corporation that are currently holding shares of the company. Royal Bank of Canada is the top institutional holder at TRP for having 102.42 million shares of worth $4.14 billion. And as of Jun 29, 2023, it was holding 9.87% of the company’s outstanding shares.
The second largest institutional holder is Capital World Investors, which was holding about 49.19 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 4.74% of outstanding shares, having a total worth of $1.99 billion.
On the other hand, American Mutual Fund Inc and Capital Income Builder, Inc. are the top two Mutual Funds which own company’s shares. As of Sep 29, 2023, the former fund manager was holding 30.01 million shares of worth $1.03 billion or 2.89% of the total outstanding shares. The later fund manager was in possession of 14.72 million shares on Jul 30, 2023, making its stake of worth around $527.85 million in the company or a holder of 1.42% of company’s stock.
