TECO Energy Sees Significant Increase in Short Interest (TE)
Shares of TECO Energy (NYSE:TE) saw a significant growth in short interest during the month of April. As of April 30th, there was short interest totalling 15,995,543 shares, a growth of 18.2% from the April 15th total of 13,534,776 shares, StockRatingsNetwork.com reports. Approximately 7.4% of the company’s shares are sold short. Based on an average trading volume of 2,285,371 shares, the days-to-cover ratio is currently 7.0 days.
Several analysts have recently commented on the stock. Analysts at Ned Davis Research upgraded shares of TECO Energy from a “neutral” rating to a “buy” rating in a research note on Monday, May 12th. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of TECO Energy in a research note on Wednesday, April 23rd. They now have a $19.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of TECO Energy in a research note on Wednesday, April 23rd. They now have a $19.00 price target on the stock. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.00.
TECO Energy (NYSE:TE) opened at 16.92 on Thursday. TECO Energy has a one year low of $16.12 and a one year high of $18.58. The stock’s 50-day moving average is $17.60 and its 200-day moving average is $17.0. The company has a market cap of $3.685 billion and a P/E ratio of 17.89.
TECO Energy (NYSE:TE) last released its earnings data on Tuesday, April 29th. The company reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. The company had revenue of $684.10 million for the quarter, compared to the consensus estimate of $680.82 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. Analysts expect that TECO Energy will post $1.02 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, May 28th. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 5.20%. The ex-dividend date is Friday, May 9th.
TECO Energy, Inc (NYSE:TE) is a holding company for regulated utilities and other businesses.
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