TC Energy Co. (NYSE:TRP) Short Interest Update

TC Energy Co. (NYSE:TRP) (TSE:TRP) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 45,650,000 shares, an increase of 135.8% from the February 29th total of 19,360,000 shares. Currently, 4.4% of the shares of the stock are short sold. Based on an average trading volume of 2,540,000 shares, the days-to-cover ratio is currently 18.0 days.

Wall Street Analysts Forecast Growth

TRP has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their target price on shares of TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research report on Friday, January 26th. TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. Barclays lifted their target price on shares of TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Jefferies Financial Group started coverage on TC Energy in a research report on Tuesday, February 27th. They issued a “hold” rating for the company. Finally, Stifel Nicolaus assumed coverage on TC Energy in a research note on Thursday, January 18th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $48.83.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Ausbil Investment Management Ltd bought a new stake in TC Energy during the 3rd quarter worth approximately $5,419,000. National Bank of Canada FI raised its holdings in shares of TC Energy by 68.2% in the 3rd quarter. National Bank of Canada FI now owns 19,993,928 shares of the pipeline company’s stock valued at $668,801,000 after acquiring an additional 8,103,785 shares in the last quarter. Morgan Stanley boosted its position in shares of TC Energy by 42.5% during the 3rd quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company’s stock valued at $234,719,000 after acquiring an additional 2,034,846 shares during the last quarter. Mondrian Investment Partners LTD increased its position in shares of TC Energy by 9.3% in the third quarter. Mondrian Investment Partners LTD now owns 7,231,694 shares of the pipeline company’s stock worth $248,843,000 after purchasing an additional 618,040 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in TC Energy by 3.5% in the third quarter. Vanguard Group Inc. now owns 39,625,940 shares of the pipeline company’s stock valued at $1,363,529,000 after purchasing an additional 1,344,000 shares in the last quarter. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Up 1.4 %

TC Energy stock traded up $0.56 during midday trading on Thursday, reaching $40.20. The stock had a trading volume of 1,703,357 shares, compared to its average volume of 2,591,540. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65. The company has a market capitalization of $40.20 billion, a P/E ratio of 19.80, a PEG ratio of 3.38 and a beta of 0.75. The company has a fifty day moving average price of $39.42 and a two-hundred day moving average price of $37.79. TC Energy has a 12 month low of $32.51 and a 12 month high of $42.76.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.93 billion. As a group, equities analysts expect that TC Energy will post 2.99 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a $0.714 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.86 annualized dividend and a dividend yield of 7.10%. This is a positive change from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s payout ratio is 138.42%.

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.