S&P 500   4,662.85
DOW   35,911.81
QQQ   380.01
S&P 500   4,662.85
DOW   35,911.81
QQQ   380.01
S&P 500   4,662.85
DOW   35,911.81
QQQ   380.01
S&P 500   4,662.85
DOW   35,911.81
QQQ   380.01

TC Energy Co. (NYSE:TRP) Sees Significant Growth in Short Interest

Last updated on Saturday, January 15, 2022 | 2022 MarketBeat

TC Energy Co. (NYSE:TRP) (TSE:TRP) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 16,680,000 shares, an increase of 146.7% from the December 15th total of 6,760,000 shares. Approximately 1.7% of the shares of the stock are short sold. Based on an average daily volume of 1,690,000 shares, the days-to-cover ratio is presently 9.9 days.

A number of equities research analysts recently commented on TRP shares. TheStreet cut TC Energy from a "b" rating to a "c+" rating in a research note on Tuesday, November 30th. National Bank Financial cut TC Energy from an "outperform" rating to a "sector perform" rating in a research note on Monday, November 8th. CIBC decreased their price objective on TC Energy from C$72.00 to C$69.00 in a research note on Tuesday. The Goldman Sachs Group cut TC Energy from a "neutral" rating to a "sell" rating and set a $45.00 price objective for the company. in a research note on Thursday. Finally, Raymond James started coverage on TC Energy in a research note on Wednesday, December 22nd. They set a "strong-buy" rating for the company. One analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, TC Energy presently has an average rating of "Buy" and an average target price of $67.30.

Shares of NYSE TRP opened at $50.02 on Friday. The firm has a market cap of $49.06 billion, a P/E ratio of 32.91, a price-to-earnings-growth ratio of 3.82 and a beta of 0.80. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 1.52. TC Energy has a 1-year low of $41.89 and a 1-year high of $55.34. The business's 50 day moving average is $47.64 and its 200-day moving average is $48.95.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, November 5th. The pipeline company reported $0.79 earnings per share (EPS) for the quarter, hitting the Zacks' consensus estimate of $0.79. The business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $3.51 billion. TC Energy had a return on equity of 15.17% and a net margin of 15.35%. During the same quarter in the prior year, the business posted $0.71 earnings per share. Analysts forecast that TC Energy will post 3.35 EPS for the current year.

The firm also recently announced a dividend, which was paid on Friday, December 31st. Shareholders of record on Tuesday, November 30th were issued a $0.6986 dividend. This represents a dividend yield of 5.63%. The ex-dividend date of this dividend was Monday, November 29th. This is an increase from TC Energy's previous dividend of $0.58. TC Energy's dividend payout ratio (DPR) is currently 180.26%.

Several hedge funds have recently modified their holdings of TRP. Farmers & Merchants Investments Inc. bought a new position in TC Energy during the 3rd quarter worth $27,000. MUFG Americas Holdings Corp bought a new position in shares of TC Energy in the 3rd quarter worth about $29,000. NEXT Financial Group Inc raised its position in shares of TC Energy by 25.5% in the 3rd quarter. NEXT Financial Group Inc now owns 1,250 shares of the pipeline company's stock worth $60,000 after acquiring an additional 254 shares in the last quarter. Archer Investment Corp raised its position in shares of TC Energy by 58.1% in the 3rd quarter. Archer Investment Corp now owns 1,328 shares of the pipeline company's stock worth $64,000 after acquiring an additional 488 shares in the last quarter. Finally, Huntington National Bank raised its position in shares of TC Energy by 428.7% in the 3rd quarter. Huntington National Bank now owns 1,343 shares of the pipeline company's stock worth $65,000 after acquiring an additional 1,089 shares in the last quarter. 69.71% of the stock is currently owned by hedge funds and other institutional investors.

About TC Energy

TC Energy Corporation engages in the provision of energy infrastructure services. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, Power and Storage, and Corporate. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines.

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