Short Interest in TC Energy Co. (NYSE:TRP) Expands By 135.8%

TC Energy Co. (NYSE:TRP - Get Free Report) TSE: TRP was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 45,650,000 shares, a growth of 135.8% from the February 29th total of 19,360,000 shares. Approximately 4.4% of the shares of the stock are sold short. Based on an average daily volume of 2,540,000 shares, the days-to-cover ratio is presently 18.0 days.

TC Energy Stock Performance

TC Energy stock traded up $0.56 during midday trading on Thursday, hitting $40.20. 1,703,357 shares of the company were exchanged, compared to its average volume of 2,591,540. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 0.96. TC Energy has a fifty-two week low of $32.51 and a fifty-two week high of $42.76. The business has a fifty day simple moving average of $39.42 and a two-hundred day simple moving average of $37.79. The firm has a market capitalization of $40.20 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 3.38 and a beta of 0.75.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.93 billion. On average, sell-side analysts forecast that TC Energy will post 2.99 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a $0.714 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from TC Energy's previous quarterly dividend of $0.67. This represents a $2.86 dividend on an annualized basis and a yield of 7.10%. TC Energy's dividend payout ratio (DPR) is currently 138.42%.

Institutional Trading of TC Energy

Several large investors have recently made changes to their positions in TRP. Capital Research Global Investors boosted its position in shares of TC Energy by 23.7% during the 4th quarter. Capital Research Global Investors now owns 55,677,989 shares of the pipeline company's stock valued at $2,174,931,000 after acquiring an additional 10,654,993 shares during the last quarter. Capital International Investors boosted its holdings in TC Energy by 11.8% in the 4th quarter. Capital International Investors now owns 55,161,245 shares of the pipeline company's stock valued at $2,155,419,000 after purchasing an additional 5,822,056 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of TC Energy by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 40,404,299 shares of the pipeline company's stock worth $1,579,404,000 after buying an additional 778,359 shares during the last quarter. Capital World Investors raised its position in shares of TC Energy by 0.5% during the 4th quarter. Capital World Investors now owns 37,412,046 shares of the pipeline company's stock valued at $1,461,583,000 after buying an additional 181,091 shares during the period. Finally, Bank of Nova Scotia lifted its stake in shares of TC Energy by 13.7% in the 4th quarter. Bank of Nova Scotia now owns 28,980,334 shares of the pipeline company's stock valued at $1,132,854,000 after purchasing an additional 3,497,666 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. TheStreet raised shares of TC Energy from a "c+" rating to a "b-" rating in a research note on Wednesday, March 20th. Stifel Nicolaus assumed coverage on TC Energy in a research note on Thursday, January 18th. They issued a "buy" rating on the stock. Barclays upped their target price on TC Energy from $53.00 to $55.00 and gave the stock an "equal weight" rating in a report on Monday, January 29th. The Goldman Sachs Group upped their price objective on shares of TC Energy from $29.00 to $32.00 and gave the stock a "sell" rating in a research note on Friday, January 26th. Finally, Jefferies Financial Group started coverage on TC Energy in a report on Tuesday, February 27th. They issued a "hold" rating on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $48.83.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.