TC Energy Corporation (NYSE:TRP) Stock Short Interest Report for September

TC Energy Corporation (NYSE:TRP) (TSE:TRP) saw a significant growth in short interest in September. As of September 30th, there was short interest totaling 56,768,076 shares, a growth of 64.0% from the September 15th total of 34,606,418 shares. Based on an average trading volume of 4,000,741 shares, the days-to-cover ratio is presently 14.2 days. Approximately 5.7% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TRP. Canada Pension Plan Investment Board acquired a new stake in TC Energy in the 2nd quarter valued at $1,148,244,000. GQG Partners LLC bought a new stake in TC Energy during the 2nd quarter worth about $1,107,936,000. Deutsche Bank AG boosted its stake in shares of TC Energy by 1.3% during the 2nd quarter. Deutsche Bank AG now owns 15,821,521 shares of the pipeline company’s stock worth $1,048,809,000 after buying an additional 196,543 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of TC Energy during the 2nd quarter worth about $977,976,000. Finally, TD Waterhouse Canada Inc. boosted its stake in shares of TC Energy by 0.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 10,660,905 shares of the pipeline company’s stock worth $623,355,000 after buying an additional 40,969 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Up 3.2%

Shares of NYSE:TRP traded up $1.92 during mid-day trading on Friday, reaching $61.59. 2,986,324 shares of the stock were exchanged, compared to its average volume of 3,357,952. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64. The company has a market cap of $61.59 billion, a P/E ratio of 25.56 and a beta of 0.70. TC Energy has a one year low of $49.27 and a one year high of $71.47. The stock’s 50 day simple moving average is $61.41 and its 200-day simple moving average is $64.74.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.61 by $0.07. TC Energy had a return on equity of 11.10% and a net margin of 22.91%. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the previous year, the business posted $0.82 EPS. As a group, equities research analysts predict that TC Energy will post 2.77 EPS for the current year.

TC Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be issued a C$0.88 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.7%. TC Energy’s dividend payout ratio (DPR) is 104.98%.

Wall Street Analysts Forecast Growth

TRP has been the topic of a number of research analyst reports. Royal Bank Of Canada reaffirmed a “moderate buy” rating and set a $106.00 price target on shares of TC Energy in a research report on Friday, September 11th. Jefferies Financial Group upgraded TC Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, September 1st. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research note on Tuesday, July 21st. The Goldman Sachs Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Wednesday, September 30th. Finally, Barclays restated an “overweight” rating on shares of TC Energy in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, TC Energy currently has a consensus rating of “Moderate Buy” and an average target price of $92.00.

TC Energy Company Profile

TC Energy Corporation is an energy infrastructure company that develops and operates natural gas pipeline, storage and power-generation assets. Its pipeline network transports natural gas from producing regions to utilities, industrial customers, power generators and export markets, while its storage facilities help support seasonal and daily demand.

The company’s operations are concentrated in Canada, the United States and Mexico. Its major systems include the Canadian Mainline, which connects Western Canadian natural gas supplies with markets in Eastern Canada and the United States, as well as U.S.