TC Energy Co. (NYSE:TRP) Short Interest Update

TC Energy Co. (NYSE:TRP) (TSE:TRP) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 22,810,000 shares, a growth of 22.3% from the August 15th total of 18,650,000 shares. Based on an average daily trading volume, of 2,730,000 shares, the short-interest ratio is presently 8.4 days. Currently, 2.2% of the shares of the company are sold short.

TC Energy Price Performance

NYSE:TRP traded up $0.46 during trading hours on Friday, reaching $46.55. 2,714,631 shares of the company were exchanged, compared to its average volume of 2,270,150. The stock’s 50-day moving average is $43.24 and its 200-day moving average is $40.15. TC Energy has a twelve month low of $32.51 and a twelve month high of $47.38. The firm has a market cap of $48.30 billion, a PE ratio of 23.99, a price-to-earnings-growth ratio of 3.76 and a beta of 0.81. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the previous year, the firm posted $0.71 EPS. On average, sell-side analysts anticipate that TC Energy will post 3.06 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a $0.702 dividend. This represents a $2.81 annualized dividend and a yield of 6.03%. The ex-dividend date is Friday, September 27th. TC Energy’s dividend payout ratio is currently 144.85%.

Analysts Set New Price Targets

Separately, Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $43.50.

Institutional Investors Weigh In On TC Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRP. EdgeRock Capital LLC acquired a new stake in shares of TC Energy in the second quarter valued at approximately $25,000. Creekmur Asset Management LLC purchased a new position in shares of TC Energy during the 4th quarter worth $27,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 429 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in shares of TC Energy in the fourth quarter valued at about $31,000. Finally, Mather Group LLC. acquired a new stake in TC Energy during the second quarter worth about $33,000. Institutional investors and hedge funds 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.