TC Energy Corporation (NYSE:TRP) Short Interest Update

TC Energy Corporation (NYSE:TRP) (TSE:TRP) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 57,460,000 shares, an increase of 130.6% from the September 15th total of 24,920,000 shares. Approximately 5.5% of the shares of the company are sold short. Based on an average daily trading volume, of 1,860,000 shares, the days-to-cover ratio is presently 30.9 days. Based on an average daily trading volume, of 1,860,000 shares, the days-to-cover ratio is presently 30.9 days. Approximately 5.5% of the shares of the company are sold short.

TC Energy Stock Performance

TRP opened at $51.39 on Wednesday. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54. The company’s fifty day moving average price is $52.33 and its two-hundred day moving average price is $49.98. TC Energy has a 1-year low of $43.51 and a 1-year high of $55.37. The company has a market cap of $53.46 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 4.85 and a beta of 0.75.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.03. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same quarter in the prior year, the company posted $0.79 earnings per share. On average, analysts expect that TC Energy will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be paid a $0.6148 dividend. The ex-dividend date is Monday, September 29th. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a yield of 4.8%. TC Energy’s dividend payout ratio is presently 84.30%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRP. Farther Finance Advisors LLC boosted its position in TC Energy by 77.7% during the first quarter. Farther Finance Advisors LLC now owns 2,299 shares of the pipeline company’s stock worth $110,000 after purchasing an additional 1,005 shares during the period. Kingswood Wealth Advisors LLC boosted its position in TC Energy by 22.7% during the first quarter. Kingswood Wealth Advisors LLC now owns 10,252 shares of the pipeline company’s stock worth $486,000 after purchasing an additional 1,895 shares during the period. Flagship Harbor Advisors LLC boosted its position in TC Energy by 90.4% during the first quarter. Flagship Harbor Advisors LLC now owns 13,403 shares of the pipeline company’s stock worth $633,000 after purchasing an additional 6,362 shares during the period. Wealthquest Corp bought a new position in TC Energy during the first quarter worth about $272,000. Finally, Spire Wealth Management boosted its position in TC Energy by 102.7% during the first quarter. Spire Wealth Management now owns 2,171 shares of the pipeline company’s stock worth $102,000 after purchasing an additional 1,100 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. US Capital Advisors cut shares of TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. TD Securities reiterated a “buy” rating on shares of TC Energy in a research note on Friday. Wall Street Zen cut shares of TC Energy from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Barclays reiterated an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. Finally, Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

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.