TC Energy Corporation (NYSE:TRP) Short Interest Update

TC Energy Corporation (NYSE:TRP) (TSE:TRP) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totaling 14,870,000 shares, a growth of 72.3% from the August 15th total of 8,630,000 shares. Currently, 1.4% of the company’s shares are short sold. Based on an average daily volume of 2,320,000 shares, the days-to-cover ratio is currently 6.4 days. Based on an average daily volume of 2,320,000 shares, the days-to-cover ratio is currently 6.4 days. Currently, 1.4% of the company’s shares are short sold.

Analyst Ratings Changes

TRP has been the subject of a number of research reports. Barclays restated an “overweight” rating on shares of TC Energy in a research report on Thursday, August 14th. US Capital Advisors lowered TC Energy from a “moderate buy” rating to a “hold” rating in a research report on Thursday, August 21st. Finally, Wall Street Zen upgraded TC Energy from a “sell” rating to a “hold” rating in a research report on Saturday. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Institutional Trading of TC Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in shares of TC Energy by 1.1% during the first quarter. Bank of New York Mellon Corp now owns 915,241 shares of the pipeline company’s stock valued at $43,209,000 after purchasing an additional 10,227 shares during the period. Farther Finance Advisors LLC grew its position in TC Energy by 77.7% in the first quarter. Farther Finance Advisors LLC now owns 2,299 shares of the pipeline company’s stock valued at $110,000 after acquiring an additional 1,005 shares during the period. Wealthstar Advisors LLC bought a new stake in TC Energy in the first quarter valued at $432,000. Golden State Wealth Management LLC grew its position in TC Energy by 222.2% in the first quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company’s stock valued at $51,000 after acquiring an additional 742 shares during the period. Finally, FORA Capital LLC bought a new stake in TC Energy in the first quarter valued at $776,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Performance

Shares of NYSE TRP opened at $52.09 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. The business’s 50 day moving average is $49.87 and its two-hundred day moving average is $48.99. The company has a market cap of $54.17 billion, a P/E ratio of 17.78, a P/E/G ratio of 5.01 and a beta of 0.77. TC Energy has a 12 month low of $40.76 and a 12 month high of $52.49.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $2.56 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same period in the previous year, the business posted $0.79 earnings per share. On average, equities analysts expect that TC Energy will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be given a dividend of $0.6148 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Monday, September 29th. TC Energy’s dividend payout ratio (DPR) is presently 85.32%.

About TC Energy

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.