TC Energy stock sees heightened short interest as investors weigh strong 2026 earnings
Published on 09/18/2026 at 20:47 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
TC Energy stock (ISIN CA89353D1078) is drawing attention on September 18, 2026 as short selling in the New York listed TRP shares spikes markedly, even though the Canadian pipeline operator has reported solid 2026 earnings growth and increased its dividend by 3.4 percent for the year.
Short interest jumps despite income appeal
According to Futunn on September 18, 2026, TC Energy (TRP.US) recorded short sale volume of 1,773,400 shares in the most recent trading day, an increase of 231.01 percent from the prior session, with short trades accounting for 61.37 percent of total volume.
That surge in short activity stands in contrast to the stock’s positioning as a steady dividend payer. As The Globe and Mail reported on September 18, 2026, TC Energy shares recently traded around 85.53 Canadian dollars on the Toronto Stock Exchange, roughly 15 percent below the 52 week high of 100.18 Canadian dollars, and offered a dividend yield of about 4.1 percent based on an annual payout of approximately 3.51 Canadian dollars per share.
Recent earnings support the long case
The operating backdrop for TC Energy has been improving in 2026. In a second quarter 2026 overview, The Globe and Mail highlighted that TC Energy’s comparable earnings before interest, taxes, depreciation and amortization (EBITDA) rose 12 percent year over year to 2.9 billion Canadian dollars in the second quarter of 2026, prompting management to guide results toward the upper end of its 2026 outlook.
The same article noted that TC Energy sanctioned roughly 3 billion Canadian dollars of new growth projects during the first half of 2026, underscoring the company’s expectation that rising North American and international demand for natural gas will support higher volumes across its pipeline network. For investors, that project pipeline is important because it can translate into incremental earnings and cash flow in the coming years if execution stays on track.
Dividend growth is another support factor. As The Globe and Mail pointed out in its passive income analysis dated September 18, 2026, TC Energy has increased its dividend for 25 consecutive years and implemented a 3.4 percent dividend increase for 2026, reflecting management’s confidence in the stability of its regulated and contracted cash flows.
Valuation, guidance and analyst context
From a valuation standpoint, the same earnings article from The Globe and Mail noted that TC Energy shares were trading at about 23 times forward earnings as of mid September 2026, a multiple that embeds expectations for continued growth but still leaves the stock below its 12 month high and supported by a mid single digit dividend yield.
Investors watching the New York listing also have an eye on cash distributions. According to Yahoo Finance as of September 17, 2026, TC Energy announced a cash dividend of 0.877 United States dollars per share on its TRP stock, with an ex dividend date of September 29, 2026, which aligns roughly with the 4 percent yield level cited for the Toronto listing when converted into United States dollars.
On the guidance side, the second quarter 2026 performance review in The Globe and Mail indicated that management expects results to come in near the upper end of its 2026 guidance range, implying that the double digit EBITDA growth seen in the second quarter is broadly in line with internal targets.
Risks that may explain higher short selling
For all the fundamental support, TC Energy does operate in a sector exposed to regulatory, environmental and execution risks. In its discussion of long term prospects, Futunn noted that TC Energy is evaluating the merits of doubling capacity on its recently completed Coastal GasLink pipeline, which moves natural gas from Canadian producers to the new LNG Canada export facility on the coast of British Columbia.
While such expansion could boost volumes and earnings, it may also entail considerable capital spending and potential permitting challenges, factors that some traders could be betting against via higher short positioning. In addition, the broader rate environment and investor appetite for pipeline and utility style assets can influence valuation multiples, and at approximately 23 times forward earnings as cited by The Globe and Mail, TC Energy is not trading at deep value levels despite the pullback from its 12 month high.
Stock trades below 12 month high
Per the recent Canadian market commentary from The Globe and Mail on September 18, 2026, TC Energy stock on the Toronto Stock Exchange was trading near 85.53 Canadian dollars, compared with its 52 week high of 100.18 Canadian dollars, meaning the shares were about 15 percent below that peak level.
On the New York Stock Exchange, the United States listed TRP shares most recently traded around 61.27 United States dollars in mid day trading on September 17, 2026, per price data from Yahoo Finance, with a modest gain of 0.64 percent from the prior close at that time.
TC Energy stock facts
- Company: TC Energy Corporation
- ISIN: CA89353D1078
- Ticker: TRP
- Trading venue: New York Stock Exchange (primary United States listing), Toronto Stock Exchange (home market)
- Price (as of September 17, 2026, 12:05): 61.27 USD
- Market capitalization: [value] USD (as of September 17, 2026)
- Sector / Industry: Energy infrastructure / pipelines
- Index membership: S&P/TSX 60
