The TRP stock’s dividend yield for TTM is 7.74% and its last dividend payment was $0.69 per share. The last ex-dividend date was September 28th, 2023 and its payout ratio is 386.81%.
Therefore, this could mean that the TRP might be relying on debt or asset sales to fund its dividends which might be concerning for the stock. This may reduce TRP stock’s future growth potential and increase its financial risk.
The TRP stock’s latest quarterly earnings report for the period ending June 2023, the TRP stock reported an EPS of $0.724 for the period ending June 2023, beating the analysts’ estimate of $0.717 by 0.99%. The next quarter’s revenue is estimated to be $2.861 Billion and an estimated EPS of $0.732. The report will be released on November 2nd, 2023.
The TC Energy Corporation displayed a revenue of $2.73 Billion, with a net income of $205.95 Million, and a profit margin from the last quarter of 7.54%. This quarter, the reported revenue exceeded analysts’ estimates by $78.626 Million (2.80%).
The TRP stock has a CMP of $34.77 and an intraday loss of 0.80%. The TRP stock’s average volume for the last 10 days is 4.205 Million and its current volume is 1.832 Million. The TRP stock has a float of 998.777 Million shares and a market cap of $34.801 Billion.
TRP stock’s latest quarterly balance sheet for the period ending June 2023 reported total assets of $88.29 Billion and total liabilities of $62.52 Billion. The TRP debt-to-assets ratio is at 70.81%.
TRP Stock Price Technical Analysis in 1-D Timeframe
At the time of publishing, the price of TC Energy Corporation (NYSE: TRP) took support around $32 and rose upward by jumping above 20 EMA. Therefore, if more buying volume assists the TRP price in surging upwards, the stock may surpass major rejecting levels and EMA’s and may thrust for making new highs.
The MACD indicates a bullish cross and shows bullishness in TRP stock as the histogram width is broadening in the MACD tool. The RSI is at 46.94 as RSI took support on 14 SMA which is at 38.20. The indicators in the TRP stock show positive signs on the charts.
In addition, the stock ratings for TRP stock are neutral and not highly recommended based on 20 analysts who have evaluated the stock in the last three months. The 1-year price forecasts for TRP stock by 17 analysts range between $27.94 to $44.12.
According to the TC Energy Corporation. (NYSE: TRP) stock’s price action that was displayed on its chart, the TRP stock price started ascending upwards from the $32 support level in March 2020. It reached a high of $59 in the first week of June 2022, by making a continuous upward break of structures and moving in higher highs and lows pattern, which formed an uptrend.
However, the uptrend was disturbed as the TRP stock faced resistance and started falling by making lower lows and highs as investors pulled out their profits from multiple quarterly reports and dividends. This became a continuous sell-off and showed poor performance on the charts for the TRP price in the last 16 months.
However, the stock has shown recovery traits as the TRP price took support at a vital level of around $32 on the charts in the first week of October 2023, where the TRP price surged last.
Therefore, if the TC Energy stock manages to gain strong buying momentum and surges above the previous swing high, it can shoot a rally upwards. The probable resistance levels are between $37 and $40.
Alternatively, if the TRP stock faces resistance again and continues to fall below and breaks below $28, it could fall up to $32.
Summary
TC Energy Corporation (NYSE: TRP) chart indicates that the traders and investors of the share price are bullish and positive on the 1-D timeframe. The price action shows a bullish outlook at the time of publishing. The technical analysis tools of the TC Energy stock price highlight upward signals and support bullishness.
Technical Levels
Support Levels: $28 and $32
Resistance Levels: $37 and $40
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/10/13/trp-stock-forecast-can-nyse-trp-price-reach-50-before-year-end/