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

TC Energy Co. (NYSE:TRPGet Free Report) (TSE:TRP) saw a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 18,400,000 shares, a decrease of 59.4% from the January 15th total of 45,370,000 shares. Currently, 1.8% of the company’s shares are short sold. Based on an average trading volume of 2,410,000 shares, the short-interest ratio is presently 7.6 days.

Institutional Investors Weigh In On TC Energy

A number of hedge funds have recently made changes to their positions in TRP. EdgeRock Capital LLC acquired a new stake in TC Energy during the 4th quarter worth approximately $25,000. Bruce G. Allen Investments LLC acquired a new stake in TC Energy during the 4th quarter worth approximately $26,000. Glassman Wealth Services boosted its position in TC Energy by 61.0% during the 4th quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock worth $28,000 after buying an additional 275 shares during the period. OLD Point Trust & Financial Services N A acquired a new stake in TC Energy during the 2nd quarter worth approximately $32,000. Finally, Hexagon Capital Partners LLC lifted its position in shares of TC Energy by 158.3% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,085 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 665 shares during the period. 73.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. TheStreet lowered TC Energy from a “c” rating to a “d+” rating in a report on Wednesday, November 8th. Stifel Nicolaus started coverage on shares of TC Energy in a report on Thursday, January 18th. They issued a “buy” rating on the stock. Barclays raised their price objective on shares of TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Wells Fargo & Company upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, October 25th. Finally, The Goldman Sachs Group boosted their price target on shares of TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, TC Energy has an average rating of “Hold” and an average target price of $48.83.

View Our Latest Stock Analysis on TRP

TC Energy Price Performance

Shares of TRP traded up $0.76 during mid-day trading on Monday, reaching $38.29. The company had a trading volume of 1,178,473 shares, compared to its average volume of 2,244,614. The company’s 50 day simple moving average is $39.04 and its 200 day simple moving average is $36.89. TC Energy has a 1-year low of $32.51 and a 1-year high of $42.80. The company has a debt-to-equity ratio of 43.25, a quick ratio of 0.75 and a current ratio of 0.86. The company has a market capitalization of $38.29 billion, a price-to-earnings ratio of -635.00, a P/E/G ratio of 3.12 and a beta of 0.76.

About TC Energy

(Get Free Report)

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 93,700 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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