TC Energy Co. (NYSE:TRP) Sees Large Increase in Short Interest

TC Energy Co. (NYSE:TRP - Get Free Report) TSE: TRP saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 48,410,000 shares, a growth of 345.8% from the December 15th total of 10,860,000 shares. Approximately 4.7% of the company's stock are short sold. Based on an average trading volume of 2,090,000 shares, the short-interest ratio is presently 23.2 days.

TC Energy Trading Down 1.8 %

TRP stock traded down $0.82 during midday trading on Monday, hitting $45.88. 3,563,127 shares of the company's stock were exchanged, compared to its average volume of 1,882,904. The stock's fifty day moving average price is $47.74 and its 200-day moving average price is $45.42. TC Energy has a one year low of $31.83 and a one year high of $50.37. 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 company has a market cap of $47.66 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 3.88 and a beta of 0.82.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. Research analysts predict that TC Energy will post 3 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 Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.822 dividend. This represents a $3.29 dividend on an annualized basis and a dividend yield of 7.17%. This is a boost from TC Energy's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy's dividend payout ratio is presently 63.16%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. StockNews.com started coverage on shares of TC Energy in a report on Wednesday, December 4th. They issued a "hold" rating for the company. UBS Group raised TC Energy from a "neutral" rating to a "buy" rating in a research report on Monday, September 30th. 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 report on Monday, October 21st. BMO Capital Markets lifted their price objective on TC Energy from $66.00 to $70.00 and gave the stock a "market perform" rating in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. raised TC Energy from a "neutral" rating to an "overweight" rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, TC Energy presently has a consensus rating of "Hold" and a consensus target price of $55.67.

Institutional Investors Weigh In On TC Energy

Large investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board boosted its position in shares of TC Energy by 107.1% in the second quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company's stock valued at $737,609,000 after acquiring an additional 10,065,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in TC Energy by 156.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company's stock worth $321,778,000 after purchasing an additional 4,126,801 shares in the last quarter. Merewether Investment Management LP bought a new stake in TC Energy in the 2nd quarter valued at about $112,618,000. Marshall Wace LLP grew its position in shares of TC Energy by 841.1% during the 2nd quarter. Marshall Wace LLP now owns 2,040,863 shares of the pipeline company's stock worth $77,349,000 after purchasing an additional 1,824,008 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of TC Energy during the third quarter worth approximately $73,162,000. Institutional investors own 83.13% of the company's stock.

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.

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