TC Energy Co. (NYSE:TRP) Short Interest Down 69.5% in April

TC Energy Co. (NYSE:TRP - Get Free Report) TSE: TRP was the recipient of a significant decline in short interest in April. As of April 30th, there was short interest totalling 16,050,000 shares, a decline of 69.5% from the April 15th total of 52,660,000 shares. Based on an average trading volume of 3,400,000 shares, the days-to-cover ratio is presently 4.7 days. Approximately 1.5% of the shares of the stock are short sold.

Institutional Investors Weigh In On TC Energy

A number of large investors have recently bought and sold shares of TRP. Capital Research Global Investors increased its position in TC Energy by 23.7% in the 4th quarter. Capital Research Global Investors now owns 55,677,989 shares of the pipeline company's stock worth $2,174,931,000 after buying an additional 10,654,993 shares during the period. Capital International Investors increased its position in TC Energy by 11.8% during the fourth quarter. Capital International Investors now owns 55,161,245 shares of the pipeline company's stock worth $2,155,419,000 after acquiring an additional 5,822,056 shares during the period. Vanguard Group Inc. boosted its holdings in TC Energy by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 41,057,330 shares of the pipeline company's stock valued at $1,650,505,000 after purchasing an additional 653,031 shares during the period. Capital World Investors grew its position in TC Energy by 0.5% in the 4th quarter. Capital World Investors now owns 37,412,046 shares of the pipeline company's stock worth $1,461,583,000 after purchasing an additional 181,091 shares during the last quarter. Finally, Bank of Nova Scotia grew its position in 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 worth $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 institutional investors.

TC Energy Stock Up 1.1 %

Shares of NYSE:TRP traded up $0.43 during midday trading on Friday, hitting $38.63. 2,654,462 shares of the stock were exchanged, compared to its average volume of 4,059,905. The company has a market capitalization of $38.63 billion, a PE ratio of 19.91, a P/E/G ratio of 3.21 and a beta of 0.75. TC Energy has a 52-week low of $32.51 and a 52-week high of $41.85. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.88 and a current ratio of 0.94. The business's fifty day simple moving average is $38.34 and its two-hundred day simple moving average is $38.21.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.20. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.93 billion. TC Energy had a return on equity of 17.94% and a net margin of 17.23%. As a group, research analysts predict that TC Energy will post 2.98 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 7.35%. The ex-dividend date of this dividend is Friday, June 28th. TC Energy's payout ratio is presently 143.30%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Barclays upped their price target on TC Energy from $53.00 to $55.00 and gave the company an "equal weight" rating in a report on Monday, January 29th. The Goldman Sachs Group boosted their price objective on TC Energy from $29.00 to $32.00 and gave the stock a "sell" rating in a report on Friday, January 26th. Jefferies Financial Group initiated coverage on shares of TC Energy in a report on Tuesday, February 27th. They issued a "hold" rating for the company. Stifel Nicolaus began coverage on shares of TC Energy in a research report on Thursday, January 18th. They issued a "buy" rating on the stock. Finally, TheStreet upgraded shares of TC Energy from a "c+" rating to a "b-" rating in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price 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.

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