TC Energy Sees Unusually High Options Volume (NYSE:TRP)

TC Energy Co. (NYSE:TRP) (TSE:TRP) saw some unusual options trading on Wednesday. Investors acquired 16,157 put options on the stock. This represents an increase of 1,446% compared to the typical volume of 1,045 put options.

Wall Street Analyst Weigh In

TRP has been the topic of several recent research reports. Royal Bank of Canada upped their price objective on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. StockNews.com lowered shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. TD Securities started coverage on shares of TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Finally, Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Institutional Trading of TC Energy

Several large investors have recently bought and sold shares of the business. Lowe Wealth Advisors LLC acquired a new position in shares of TC Energy during the 1st quarter worth approximately $30,000. SBI Securities Co. Ltd. purchased a new position in TC Energy during the fourth quarter worth approximately $31,000. Versant Capital Management Inc acquired a new position in TC Energy during the fourth quarter worth $33,000. Synergy Investment Management LLC acquired a new position in TC Energy during the fourth quarter worth $36,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of TC Energy in the 4th quarter worth $41,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Trading Up 0.6 %

Shares of TC Energy stock opened at $48.88 on Thursday. TC Energy has a twelve month low of $34.95 and a twelve month high of $50.37. The firm’s 50-day moving average price is $46.69 and its 200 day moving average price is $46.97. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $50.80 billion, a PE ratio of 15.09, a P/E/G ratio of 4.34 and a beta of 0.74.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same period in the previous year, the company posted $1.35 earnings per share. On average, sell-side analysts predict that TC Energy will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.85 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 6.96%. The ex-dividend date is Monday, March 31st. TC Energy’s dividend payout ratio (DPR) is currently 72.84%.

About TC Energy

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 93,600 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.