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

TC Energy Co. (NYSE:TRP) (TSE:TRP) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 16,157 put options on the company. This is an increase of 1,446% compared to the average daily volume of 1,045 put options.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On TC Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the business. EdgeRock Capital LLC purchased a new stake in TC Energy in the 4th quarter worth approximately $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of TC Energy in the 4th quarter worth $26,000. Creekmur Asset Management LLC acquired a new stake in shares of TC Energy in the 4th quarter worth $27,000. Glassman Wealth Services increased its position in shares of 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 purchasing an additional 275 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new stake in shares of TC Energy during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Performance

TRP opened at $35.10 on Thursday. TC Energy has a 52-week low of $32.51 and a 52-week high of $42.49. The company has a quick ratio of 0.88, a current ratio of 0.96 and a debt-to-equity ratio of 1.65. The company has a market cap of $35.10 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 3.01 and a beta of 0.75. The firm’s 50-day moving average price is $39.14 and its 200-day moving average price is $37.96.

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

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.714 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.86 annualized dividend and a dividend yield of 8.14%. This is an increase from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s dividend payout ratio is 139.41%.

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.