Short Interest in TC Energy Co. (NYSE:TRP) Drops By 58.4%

TC Energy Co. (NYSE:TRP - Get Free Report) TSE: TRP was the recipient of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 7,650,000 shares, a decline of 58.4% from the January 15th total of 18,400,000 shares. Based on an average daily trading volume, of 2,160,000 shares, the short-interest ratio is currently 3.5 days. Approximately 0.7% of the company's shares are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Quantinno Capital Management LP raised its stake in TC Energy by 21.7% during the 4th quarter. Quantinno Capital Management LP now owns 27,800 shares of the pipeline company's stock worth $1,294,000 after buying an additional 4,955 shares during the period. Nomura Holdings Inc. purchased a new stake in shares of TC Energy in the fourth quarter worth approximately $267,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of TC Energy by 4.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,460,562 shares of the pipeline company's stock worth $161,020,000 after purchasing an additional 156,944 shares during the last quarter. Moore Capital Management LP purchased a new stake in shares of TC Energy in the fourth quarter worth approximately $19,427,000. Finally, Janus Henderson Group PLC raised its stake in shares of TC Energy by 4.4% in the fourth quarter. Janus Henderson Group PLC now owns 1,037,808 shares of the pipeline company's stock worth $48,335,000 after purchasing an additional 43,731 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on TRP. US Capital Advisors upgraded TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. Morgan Stanley upgraded TC Energy from an "underweight" rating to an "overweight" rating in a research report on Friday, October 25th. StockNews.com began coverage on TC Energy in a research report on Wednesday, December 4th. They issued a "hold" rating on the stock. The Goldman Sachs Group upped their price target on TC Energy from $38.00 to $42.00 and gave the company a "sell" rating in a research report on Monday, October 21st. Finally, BMO Capital Markets upped their price target on TC Energy from $66.00 to $70.00 and gave the company a "market perform" rating in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, TC Energy has an average rating of "Hold" and a consensus price target of $56.00.

TC Energy Trading Down 2.8 %

Shares of NYSE:TRP traded down $1.35 during midday trading on Monday, reaching $46.05. The company's stock had a trading volume of 3,448,624 shares, compared to its average volume of 2,186,209. The firm has a market capitalization of $47.85 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 4.45 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The firm has a 50 day moving average price of $46.61 and a two-hundred day moving average price of $46.58. TC Energy has a fifty-two week low of $31.83 and a fifty-two week high of $50.37.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.54. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the prior year, the business earned $1.35 EPS. As a group, analysts forecast that TC Energy will post 2.92 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.85 per share. This is an increase from TC Energy's previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a yield of 7.38%. TC Energy's dividend payout ratio is 63.43%.

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.