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

TC Energy Co. (NYSE:TRP) (TSE:TRP) was the target of a significant growth in short interest during 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 days-to-cover ratio is presently 17.1 days. Currently, 3.4% of the company’s stock are short sold.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TRP. NTV Asset Management LLC increased its stake in shares of 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 purchasing an additional 239 shares in the last quarter. Captrust Financial Advisors raised its stake 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 worth $871,000 after buying an additional 242 shares during the period. Lee Financial Co lifted its position in shares of TC Energy by 3.1% during the 4th quarter. Lee Financial Co now owns 8,185 shares of the pipeline company’s stock valued at $381,000 after buying an additional 246 shares in the last quarter. IFP Advisors Inc grew its stake in shares of TC Energy by 7.0% during the 4th quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock valued at $177,000 after acquiring an additional 249 shares during the period. Finally, Benjamin Edwards Inc. increased its holdings in TC Energy by 1.7% in the 4th quarter. Benjamin Edwards Inc. now owns 16,003 shares of the pipeline company’s stock worth $745,000 after acquiring an additional 273 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

TC Energy Price Performance

Shares of TRP opened at $48.43 on Thursday. The firm has a fifty day simple moving average of $46.48 and a two-hundred day simple moving average of $46.92. The firm has a market cap of $50.32 billion, a PE ratio of 14.95, a P/E/G ratio of 4.34 and a beta of 0.83. 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 has a 1-year low of $34.95 and a 1-year high of $50.37.

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

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 7.02%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. TC Energy’s payout ratio is 72.53%.

About TC Energy

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.