Short Interest in TC Energy Co. (NYSE:TRP) Grows By 360.9%

TC Energy Co. (NYSE:TRP) (TSE:TRP) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 34,940,000 shares, a growth of 360.9% from the February 28th total of 7,580,000 shares. Based on an average daily trading volume, of 2,040,000 shares, the short-interest ratio is presently 17.1 days. Currently, 3.4% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Royal Bank of Canada upped their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. TD Securities assumed coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. StockNews.com cut TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Trading Down 0.5 %

Shares of NYSE TRP traded down $0.25 during trading hours on Friday, reaching $48.02. The stock had a trading volume of 1,683,311 shares, compared to its average volume of 2,657,056. TC Energy has a 52-week low of $34.95 and a 52-week high of $50.37. The firm has a market cap of $49.90 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 4.34 and a beta of 0.83. The business’s fifty day moving average price is $46.53 and its two-hundred day moving average price is $46.93. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.54. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period in the prior year, the business earned $1.35 EPS. Analysts expect that TC Energy will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 7.08%. This is a boost from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. TC Energy’s dividend payout ratio is presently 72.53%.

Institutional Investors Weigh In On TC Energy

Several large investors have recently modified their holdings of the business. NTV Asset Management LLC raised its stake in TC Energy by 4.0% in the 4th quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company’s stock worth $288,000 after acquiring an additional 239 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of TC Energy by 1.3% in the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after purchasing an additional 242 shares during the period. Lee Financial Co raised its stake in shares of TC Energy by 3.1% in the fourth quarter. Lee Financial Co now owns 8,185 shares of the pipeline company’s stock worth $381,000 after purchasing an additional 246 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of TC Energy by 7.0% during the fourth quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock worth $177,000 after purchasing an additional 249 shares during the period. Finally, Benjamin Edwards Inc. boosted its position in TC Energy by 1.7% in the fourth quarter. Benjamin Edwards Inc. now owns 16,003 shares of the pipeline company’s stock valued at $745,000 after buying an additional 273 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Company Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.