TC Energy Co. (NYSE:TRP) Short Interest Up 360.9% in March

TC Energy Co. (NYSE:TRP - Get Free Report) TSE: TRP was the recipient of a significant growth in short interest in 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. Currently, 3.4% of the shares of the company are sold short. Based on an average daily trading volume, of 2,040,000 shares, the short-interest ratio is presently 17.1 days.

Analyst Ratings Changes

TRP has been the subject of several recent analyst reports. StockNews.com lowered TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Veritas raised TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Royal Bank of Canada lifted their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. US Capital Advisors upgraded shares of 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 shares of TC Energy in a research note on Wednesday, January 15th. They set a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $62.00.

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Institutional Investors Weigh In On TC Energy

Several large investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new position in shares of TC Energy in the fourth quarter worth $31,000. Versant Capital Management Inc acquired a new position in TC Energy during the 4th quarter worth $33,000. Synergy Investment Management LLC purchased a new stake in TC Energy during the 4th quarter worth about $36,000. Point72 DIFC Ltd acquired a new stake in TC Energy in the 3rd quarter valued at about $39,000. Finally, Millstone Evans Group LLC purchased a new position in shares of TC Energy in the 4th quarter valued at about $41,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Trading Down 0.9 %

Shares of TRP stock traded down $0.41 on Monday, hitting $47.04. 765,088 shares of the stock traded hands, compared to its average volume of 2,653,559. TC Energy has a twelve month low of $34.95 and a twelve month high of $50.37. The stock has a market capitalization of $48.89 billion, a PE ratio of 14.51, a PEG ratio of 4.34 and a beta of 0.83. The firm's 50-day moving average price is $46.54 and its two-hundred day moving average price is $46.95. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released 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. The business had revenue of $2.56 billion during the quarter, compared to analysts' expectations 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 in the prior year, the business posted $1.35 EPS. As a group, analysts anticipate that TC Energy will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.85 dividend. This is a positive change from TC Energy's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 annualized dividend and a dividend yield of 7.23%. TC Energy's dividend payout ratio (DPR) is presently 72.53%.

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.