TC Energy Co. (NYSE:TRP – Get Rating) (TSE:TRP) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 36,670,000 shares, an increase of 241.4% from the March 15th total of 10,740,000 shares. Currently, 3.8% of the company’s shares are sold short. Based on an average trading volume of 2,020,000 shares, the days-to-cover ratio is presently 18.2 days.
A number of institutional investors and hedge funds have recently made changes to their positions in TRP. MV Capital Management Inc. increased its holdings in shares of TC Energy by 38.1% during the fourth quarter. MV Capital Management Inc. now owns 725 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 200 shares during the period. Stonebridge Capital Advisors LLC increased its holdings in shares of TC Energy by 11.0% during the fourth quarter. Stonebridge Capital Advisors LLC now owns 2,027 shares of the pipeline company’s stock valued at $94,000 after purchasing an additional 201 shares during the period. Pacifica Partners Inc. increased its holdings in shares of TC Energy by 0.7% during the first quarter. Pacifica Partners Inc. now owns 30,372 shares of the pipeline company’s stock valued at $1,649,000 after purchasing an additional 220 shares during the period. CLARET ASSET MANAGEMENT Corp increased its holdings in shares of TC Energy by 2.2% during the first quarter. CLARET ASSET MANAGEMENT Corp now owns 12,104 shares of the pipeline company’s stock valued at $683,000 after purchasing an additional 262 shares during the period. Finally, B. Riley Wealth Management Inc. increased its holdings in shares of TC Energy by 3.8% during the fourth quarter. B. Riley Wealth Management Inc. now owns 8,099 shares of the pipeline company’s stock valued at $377,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 68.61% of the company’s stock.
TRP has been the topic of several recent research reports. Wolfe Research cut shares of TC Energy from a “peer perform” rating to an “underperform” rating and boosted their price target for the company from $53.00 to $57.00 in a research report on Monday. CIBC lowered shares of TC Energy from a “sector outperform” rating to a “neutral” rating in a report on Wednesday, February 16th. Zacks Investment Research downgraded shares of TC Energy from a “buy” rating to a “hold” rating and set a $61.00 price target for the company. in a research note on Monday, April 4th. Industrial Alliance Securities upgraded shares of TC Energy from a “hold” rating to a “buy” rating and set a C$74.00 price objective for the company in a research report on Monday, April 4th. Finally, Wells Fargo & Company boosted their price objective on shares of TC Energy from $63.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of “Hold” and an average target price of $67.25.
TC Energy (NYSE:TRP – Get Rating) (TSE:TRP) last announced its quarterly earnings data on Tuesday, February 15th. The pipeline company reported $0.84 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.84. TC Energy had a return on equity of 14.77% and a net margin of 15.09%. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same period last year, the business posted $0.88 earnings per share. As a group, equities analysts predict that TC Energy will post 3.41 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 29th. Investors of record on Thursday, March 31st will be paid a dividend of $0.708 per share. The ex-dividend date of this dividend is Wednesday, March 30th. This is a boost from TC Energy’s previous quarterly dividend of $0.70. This represents a $2.83 annualized dividend and a yield of 4.93%. TC Energy’s dividend payout ratio (DPR) is 192.00%.
TC Energy Company Profile (Get Rating)
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 Storage. The company builds and operates 93,300 km network 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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