Investors Purchase High Volume of TC Energy Put Options (NYSE:TRP)

TC Energy Co. (NYSE:TRPGet Free Report) (TSE:TRP) saw unusually large options trading on Wednesday. Stock investors purchased 16,157 put options on the company. This represents an increase of 1,446% compared to the average daily volume of 1,045 put options.

TC Energy Trading Down 1.9 %

NYSE TRP opened at $39.24 on Thursday. The company has a market cap of $39.24 billion, a price-to-earnings ratio of 19.33, a P/E/G ratio of 3.35 and a beta of 0.75. TC Energy has a 52 week low of $32.51 and a 52 week high of $42.76. The business has a 50 day moving average price of $39.53 and a 200-day moving average price of $37.89. The company has a quick ratio of 0.88, a current ratio of 0.96 and a debt-to-equity ratio of 1.65.

TC Energy (NYSE:TRPGet Free Report) (TSE:TRP) last released its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.79 by $0.20. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.93 billion. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. As a group, equities analysts expect that TC Energy will post 2.99 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a dividend of $0.714 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.86 annualized dividend and a yield of 7.28%. This is an increase from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s dividend payout ratio is 139.41%.

Analyst Ratings Changes

TRP has been the topic of a number of recent analyst reports. Jefferies Financial Group initiated coverage on TC Energy in a research note on Tuesday, February 27th. They issued a “hold” rating on the stock. TheStreet raised TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. Stifel Nicolaus initiated coverage on TC Energy in a research note on Thursday, January 18th. They issued a “buy” rating on the stock. Barclays lifted their price objective on TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Finally, The Goldman Sachs Group lifted their price objective on TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $48.83.

View Our Latest Research Report on TRP

Institutional Investors Weigh In On TC Energy

Institutional investors have recently bought and sold shares of the stock. EdgeRock Capital LLC bought a new stake in TC Energy during the fourth quarter worth $25,000. Bruce G. Allen Investments LLC purchased a new position in TC Energy in the fourth quarter worth $26,000. Creekmur Asset Management LLC purchased a new position in TC Energy in the fourth quarter worth $27,000. Glassman Wealth Services boosted its position in TC Energy by 61.0% in the fourth quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 275 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A purchased a new position in TC Energy in the fourth quarter worth $31,000. Institutional investors own 83.13% of the company’s stock.

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 93,600 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.

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