TC Energy Co. (NYSE:TRP) Short Interest Up 171.9% in September

TC Energy Co. (NYSE:TRP) (TSE:TRP) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 12,750,000 shares, a growth of 171.9% from the September 15th total of 4,690,000 shares. Based on an average daily trading volume, of 1,330,000 shares, the short-interest ratio is currently 9.6 days. Currently, 1.3% of the company’s stock are short sold.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Atria Investments LLC acquired a new position in TC Energy during the 2nd quarter worth approximately $1,112,000. Qube Research & Technologies Ltd grew its holdings in shares of TC Energy by 53.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 93,328 shares of the pipeline company’s stock worth $4,622,000 after acquiring an additional 32,566 shares during the period. Eudaimonia Partners LLC grew its holdings in shares of TC Energy by 65.3% in the 1st quarter. Eudaimonia Partners LLC now owns 1,284 shares of the pipeline company’s stock worth $59,000 after acquiring an additional 507 shares during the period. Private Advisor Group LLC grew its holdings in shares of TC Energy by 15.8% in the 2nd quarter. Private Advisor Group LLC now owns 93,702 shares of the pipeline company’s stock worth $4,640,000 after acquiring an additional 12,782 shares during the period. Finally, BerganKDV Wealth Management LLC grew its holdings in shares of TC Energy by 1.6% in the 2nd quarter. BerganKDV Wealth Management LLC now owns 19,018 shares of the pipeline company’s stock worth $942,000 after acquiring an additional 296 shares during the period. Institutional investors own 69.40% of the company’s stock.

TRP traded up $0.77 on Thursday, hitting $52.36. 37,126 shares of the company traded hands, compared to its average volume of 1,878,644. The company has a 50 day moving average of $48.42 and a 200-day moving average of $49.21. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $51.27 billion, a PE ratio of 32.24, a PEG ratio of 2.37 and a beta of 0.79. TC Energy has a 12-month low of $38.80 and a 12-month high of $53.65.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, July 29th. The pipeline company reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.11. The firm had revenue of $2.59 billion during the quarter. TC Energy had a return on equity of 14.84% and a net margin of 16.25%. On average, research analysts anticipate that TC Energy will post 3.38 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 29th. Shareholders of record on Thursday, September 30th will be given a dividend of $0.6917 per share. This represents a $2.77 annualized dividend and a yield of 5.28%. The ex-dividend date of this dividend is Wednesday, September 29th. TC Energy’s payout ratio is 86.94%.

A number of analysts have issued reports on the company. CIBC lifted their price target on TC Energy from C$70.00 to C$74.00 and gave the stock an “outperform” rating in a report on Friday, June 18th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a C$68.00 price target on shares of TC Energy in a report on Monday, August 23rd. Morgan Stanley downgraded TC Energy from an “overweight” rating to an “equal weight” rating and set a $76.00 target price for the company. in a report on Tuesday, July 20th. Finally, The Goldman Sachs Group downgraded TC Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $75.00 to $63.00 in a report on Monday, September 13th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, TC Energy currently has an average rating of “Buy” and an average price target of $69.25.

TC Energy Company Profile

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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