TC Energy Co. (NYSE:TRP) Short Interest Up 107.8% in March

TC Energy Co. (NYSE:TRP - Get Free Report) TSE: TRP was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 72,620,000 shares, a growth of 107.8% from the March 15th total of 34,940,000 shares. Based on an average daily volume of 2,410,000 shares, the short-interest ratio is currently 30.1 days. Currently, 7.0% of the shares of the stock are short sold.

TC Energy Stock Up 1.1 %

NYSE TRP traded up $0.54 on Friday, reaching $49.44. The company had a trading volume of 3,376,859 shares, compared to its average volume of 2,611,607. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $51.39 billion, a P/E ratio of 15.26, a P/E/G ratio of 4.34 and a beta of 0.74. The company's fifty day moving average is $46.78 and its 200 day moving average is $46.99. TC Energy has a 52-week low of $35.30 and a 52-week high of $50.37.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.54. The company had revenue of $2.56 billion during 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 period last year, the business posted $1.35 earnings per share. Sell-side analysts anticipate that TC Energy will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.85 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from TC Energy's previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 6.88%. TC Energy's payout ratio is presently 72.84%.

Hedge Funds Weigh In On TC Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lowe Wealth Advisors LLC bought a new position in TC Energy in the 1st quarter worth approximately $30,000. SBI Securities Co. Ltd. purchased a new position in shares of TC Energy in the fourth quarter valued at $31,000. Versant Capital Management Inc bought a new stake in shares of TC Energy during the 4th quarter valued at $33,000. Synergy Investment Management LLC purchased a new stake in TC Energy during the 4th quarter worth about $36,000. Finally, Millstone Evans Group LLC bought a new position in TC Energy in the 4th quarter worth about $41,000. Institutional investors own 83.13% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Royal Bank of Canada increased their target price on shares of TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Citigroup began coverage on TC Energy in a research note on Friday, April 4th. They issued a "neutral" rating on the stock. StockNews.com cut shares of TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. US Capital Advisors raised TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. Finally, TD Securities initiated coverage on TC Energy in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $62.00.

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.